Reliance Industries has acquired soft drink brands Campa and Sosyo from Hajoori group as part of its strategy to scale up the FMCG business, CNBC TV-18 reported on August 31 citing sources.
The acquisition of the iconic Campa brand could pit the company against Pepsi, and Coca-Cola in the beverages market.
The brands are likely to be relaunched this year.
The news of the acquisition comes days after Isha Ambani, director of Reliance Retail Ventures Ltd, announced on August 29 that the retail arm of the company is set to foray into the FMCG segment.
“I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver high quality, affordable products which solve every Indian's daily needs,” said Ambani.
With this foray, Reliance Retail will be competing with the likes of FMCG behemoths like Hindustan Unilever, Nestle, Britannia, etc in an industry which is valued at over $110 billion in the country.
Reliance Retail already has a presence in the segment through its various private labels which are sold in the company’s grocery chain stores such as Reliance Smart, Reliance Mart, and its online grocery platform JioMart. Brands like Yeah!Colas and Snac Tac noodles are a few private label brands in FMCG segment by the company. The private labels (including in the fashion and lifestyle segment) contribute 65 percent to the company’s revenue.Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.