Mahindra Logistics (MLL) has entered into an agreement with Rivigo Services (RSPL) to acquire RSPL’s B2B express business.
As per the agreement, MLL will acquire the express business through a Business Transfer Agreement (BTA), including the customers, team and assets of RPSL’s B2B express business, RSPL’s technology platform and the Rivigo brand. RSPL will continue to own its truck fleet and the rights to the full truck load (FTL) operations.
This move will further strengthen MLL’s existing B2B express business leveraging Rivigo’s strong network, technology and process capabilities.
At present, Rivigo operates an all-India B2B express network, has a robust client base and a full-service technology suite. Its B2B express network currently covers over 19,000 pin-codes across the nation. It has over 250 processing centres and branches, spanning an area more than 1.5 million sqft, which will add significant strength to MLL’s express business capability.
Rampraveen Swaminathan, MD & CEO, Mahindra Logistics said, “B2B Express Logistics continues to see strong tailwinds as customers focus on deepening delivery networks, enhance digital adoption and invest in agile supply chains.”
“This acquisition will enhance and strengthen our offerings and reach for our customers in the B2B express and PTL space. Team Rivigo has built deep capabilities, and we look forward to building on the strengths as we integrate the businesses. We are excited by the team, as they share a common ethos with a shared focus on empowering drivers & communities,” added Swaminathan.
Deepak Garg, CEO, Rivigo Services said, “Rivigo has its foundation in the relay full truck load business. Over the years, we have built a strong brand in the PTL / Express services with pan India network and high-quality technology and service backbone. We believe the customers, and employees of our PTL business will benefit greatly from being part of a high-quality, end-to-end Supply chain services company like MLL.”