Mahindra Logistics to acquire Rivigo Services' express business

Mahindra Logistics Ltd has recently announced that it will acquire the B 2 B express business of Rivigo Services. Mahindra Logistics wants to add strength to its express business capability with this acquisition.

Mahindra Logistics said in a statement that both sides have reached an agreement to undertake a BTA. Mahindra Logistics will acquire Rivigo Services through a business transfer agreement (BTA) that includes the customers, team and assets of the express business startup and its technology platform, as per the BTA.

The company didn't reveal any details about the cost of the acquisition. Rivigo will still have rights to full truckload FTL operations and will continue to operate its truck fleet as per the deal.

Rivigo operates a pan-India B 2 B express network with a robust client base and a full-service technology suite. Its express network currently covers over 19,000 PIN codes across the country, through over 250 processing centres and branches, spanning more than 1.5 million sq ft.

Rampraveen Swaminathan, Managing Director and CEO, Mahindra Logistics, stated that B2 B express logistics continues to see strong tailwinds as customers deepen delivery networks, enhance digital adoption and invest in agile supply chains.

Mahindra Logistics offers supply chain solutions, including third-party logistics, full truckload transportation, warehousing, cross-border logistics, last mile and B 2 B express logistics services.

Swaminathan said that this acquisition will strengthen the offerings and reach of our customers in the B 2 B express and PTL partial truckload space. Team Rivigo has built deep capabilities, and we look forward to building on the strengths as we integrate the businesses. Deepak Garg, CEO of Rivigo Services, said that Rivigo has its foundation in the relay full truckload business. He said that over the years, we have built a brand in the PTL express services with the pan-India network and technology and service backbone.