Mumbai - Mahindra Logistics Ltd. (MLL) and Rivigo Services Private Limited (RSPL) announced that they had reached agreement for purchase of RSPL's B2B express business by MLL.
Under the terms of 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.
MLL, one of India's leading integrated logistics companies, is focused on providing customers supply chain solutions, integrating its 3PL, FTL transportation, warehousing, cross-border logistics, last mile and B2B express logistics services. The acquisition will augment MLL's existing B2B express business leveraging Rivigo's strong network, technology, and process capabilities.
Gurgaon-based Rivigo operates a pan-India B2B express network, has a robust client base, and a full-service technology suite. Rivigo's B2B express network currently covers over 19,000 pin-codes across the nation. Their 250+ processing centres and branches, spanning an area of more than 1.5 million sq. ft., will add significant strength to MLL's express business capability.
Speaking on the occasion, Rampraveen Swaminathan, MD & CEO, Mahindra Logistics Limited, 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 those strengths as we integrate the businesses. We are excited about the team, as they share a common ethos with a shared focus on empowering drivers and communities.'
Speaking on the occasion, Deepak Garg, CEO of RSPL, 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.'
About Mahindra Logistics
Mahindra Logistics Limited (MLL) is an integrated third-party logistics (3PL) service provider, specialising in supply chain management and enterprise mobility. MLL serves over 400+ corporate customers across various industries like Automobile, Engineering, Consumer Goods and E-commerce. The Company pursues an 'asset-light' business model, providing customised and technology enabled solutions that span across the supply chain and people mobility services.
For more information, visit www.mahindralogistics.com
About Mahindra
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership positionin farm equipment, utility vehicles, information technology and financial services in India and is the world's largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room
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