Mahindra Logistics To Acquire Rivigo Services’ B2B Express Business For Rs 2.25 Billion: Motilal Oswal
With the Rivigo deal, Mahindra Logistics expects to enhance and strengthen its offerings and customer reach.
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Mahindra Logistics Ltd. has entered into an agreement with Rivigo Services Pvt. Ltd. to acquire the latter’s business-to-business Express business. As per the terms of the agreement, Mahindra Logistics will acquire Rivigo Services' B2B Express business through a business transfer agreement, including its customers, team, assets (including its technology platform), and the Rivigo brand.
Rivigo currently operates in the B2B express and the full-truck load segment. In B2B express, it operates a pan India network, with a robust client base and a full-service technology setup. Its B2B express network currently covers over 19,000 pin codes across India. It has more than 250 processing centers and branches, spanning an area of more than 1.5 million square feet.
As per Mahindra Logistics, the B2B express logistics business is seeing strong tailwinds as customers are focusing on deepening delivery networks, enhancing digital adoption, and investing in agile supply chains. With this deal, Mahindra Logistics expects to enhance and strengthen its offerings and customer reach.
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