Reliance Retail Ventures unit acquires 50% stake in beverage firm

The remaining stake in SHBPL will still be owned by the Hajoori Family.

Reliance Consumer Products, the fast-moving consumer goods and a subsidiary of Reliance Retail Ventures, formed a joint venture with Sosyo Hajoori Beverages Private Limited (SHPBL) after acquiring a 50% equity stake in the company.

In a statement, Reliance consumers said the acquisition will improve its beverage portfolio whilst boosting the growth of Sosyo brands.

The 100-year-old carbonated soft drinks and juices company has several brands including Sosyo, Kashmira, Lemee, Ginlim, Runner, Opener, Hajoori Soda, and S’eau.

The Hajoori Family will continue to own the remaining stake in SHBPL, said Reliance.

Reliance strengthened its beverage segment portfolio with the joint venture and following the acquisition of the Campa brand.