Reliance Consumer Products Ltd (RCPL), the FMCG subsidiary of Reliance Retail Ventures, announced on January 3 that it would acquire a 50% stake in Gujarat-based Sosyo Hajoori Beverages Pvt Ltd. The two companies have established a joint venture, a statement noted to the media.

Founded by Abbas Abdulrahim Hajoor in 1923, Sosyo produces a wide range of carbonated soft drinks (CSD) and fruit juices. The 100-year-old company has a loyal client base in Gujarat, and some of the popular brands in its portfolio include Sosyo, Kashmira, Ginlim, Lemee, Opener, Runner, S’eau and Hajoori Soda.

The company is currently led by Abbas Hajoori and his son Aliasgar Hajoori. According to the press release, the existing promoters Hajoori family, will continue to own the remaining shares.

The joint venture with RCPL is expected to advance the growth of the Sosyo brand by leveraging Reliance’s expertise, distribution and retail network.

The acquisition will help RCPL strengthen its beverage portfolio. In August, Reliance Retail Ventures acquired the domestic soft drink brand Campa from Delhi-based Pure Drinks Group.

Isha Ambani, executive director at Reliance Retail Ventures, said the investment in Sosyo “helps us realise our vision of empowering local heritage brands and providing them with new growth opportunities”.