Mahindra Logistics acquires Rivigo Services, aims to strengthen its express business capability

Mahindra Logistics Ltd has recently announced that it will acquire the B2B express business of logistics start-up Rivigo Services. Mahindra Logistics, with this acquisition, aims to add significant strength to its express business capability.

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

However, the company didn’t disclose any details about the cost of this acquisition. Rivigo, as per the deal, will continue to operate its truck fleet and own rights to the full truckload (FTL) operations.

Rivigo operates a pan-India B2B 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 B2B 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, integrating its third-party logistics, full truck-load transportation, warehousing, cross-border logistics, last mile and B2B express logistics services.

Swaminathan added that "This acquisition will enhance and strengthen our offerings and reach for our customers in the B2B express and PTL (partial truck-load) 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 added that "over the years, we have built a brand in the PTL / express services with pan-India network and technology and service backbone.”