The B2B express business of Rivigo Services Private Limited (RSPL) will be acquired by Mahindra Logistics for INR 225 crore, according to a statement from the company. According to a regulatory filing to the BSE, the transaction is anticipated to close on or before November 1.
According to the terms of the contract, MLL will acquire the express business through a Business Transfer Agreement (BTA), together with the clients, staff, and assets of Rivigo’s B2B express business, RSPL’s technology platform, and the Rivigo brand. The rights to full truckload (FTL) operations will remain owned by RSPL, together with its truck fleet.
Utilizing Rivigo’s robust network, technology, and process skills, this acquisition will strengthen Mahindra Logistics’ current B2B express business. Over 19,000 pin codes are currently covered by Rivigo’s B2B express network across the country. They will significantly strengthen MLL’s express business potential with more than 250 processing centers and branches covering more than 1.5 million square feet.
With clients concentrating on expanding delivery networks, boosting digital usage, and investing in agile supply chains, B2B Express Logistics is still seeing significant tailwinds. “Through this acquisition, we will be better able to serve our customers in the B2B express and PTL markets. Deep capabilities have been developed by Team Rivigo, and as we integrate the businesses, we look forward to leveraging the advantages. We are encouraged by the group since they have a common ethos and a commitment to empowering drivers and communities, Rampraveen Swaminathan, MD & CEO, Mahindra Logistics, says.
