Reliance-Sosyo Deal: Reliance Soso will buy 50% stake in Hazuri Beverages, know what Isha Ambani said?

Reliance Consumer Products Limited, a wholly owned subsidiary and FMCG arm of Reliance Retail Ventures Limited, has said it will buy 50% equity stake in Gujarat-headquartered Soso Hazuri Beverages Pvt Ltd (SHBPL). The company operates a beverage business under the brand ‘Socio’. The Hajuri family, the company’s current promoters, will continue to own the remaining stake in SHBPL.

The company said, “Sosyo is a heritage Indian brand with a history of nearly 100 years in the carbonated soft drinks (CSD) and juices segment. Established in 1923 by Abbas Abdulrahim Hazuri, the company is one of the leading players in the domestic soft drinks market. is one of the. Headed by Abbas Hazuri and his son Aliasgar Hazuri, SHBPL has a portfolio of beverage brands including Sosyo, Kashmira, Lemmy, Ginlim, Runner, Opener, Hazuri Soda and Sau. The company has launched more than 100 flavors with its strong expertise in developing formulations. The Sosyo brand has a huge customer base in Gujarat.”

Speaking on the investment, Isha Ambani, Executive Director, Reliance Retail Ventures Ltd. said, “This investment will help us further our vision of empowering local heritage brands and presenting them with new growth opportunities.”

Speaking on the joint venture with RCPL, Abbas Hazuri, Chairman, Soso Hazuri Beverages Pvt Ltd, said, “We are delighted to enter into this partnership with Reliance Consumer Products, a strong and willing partner who will provide Soso with its reach can help in increasing it faster.