Reliance Consumer Products Limited to buy 50 per cent stake in Socio Hajuri Beverages Pvt. This Gujarat-based company manufactures carbonated soft drinks and juices. Reliance Consumer Products Limited is the FMCG arm of Reliance Industries. It is a subsidiary of Reliance Retail Venture Limited (RRVL), the country’s leading retail company. The acquisition will enable RCPL to expand its beverage portfolio, RRVL said in a statement on Tuesday. RCPL recently acquired Lotus Chocolate Company.
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A 100 year old company
Socio Hajuri Beverages is a 100 year old beverage manufacturing company. The existing promoters of the company, the Hazuri family, will retain their stake in the company. This joint venture will further strengthen Reliance’s portfolio in the beverage sector. Reliance Consumer has already acquired the well-known brand Campa. Additionally Socio’s expertise can be leveraged in building a product portfolio and developing a unique value proposition for customers.
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Founded by Abbas Abdulrahim Hazuri
Abbas Abdulrahim Hazuri founded Socio Hazuri in 1923. It deals in soft drinks under Socio brand. It is one of the leading companies in the country in the carbonated soft drinks and juices business. The soft drinks portfolio of this company includes many brands. These include Socio, Kashmira, Lemmy, Ginleem, Runner, Opener, Hazuri Soda and around 100 flavors.
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New opportunities for social development
Commenting on the investment, Isha Ambani, Executive Director, Reliance Retail Ventures Limited said, “This joint venture reflects our vision to provide new growth opportunities to established brands and local businesses across the country. We are adding the legacy of Socio, a 100-year-old company, to our consumer brand portfolio. We are confident that our customer base and retail distribution strength will open up new growth opportunities for Socio.