The acquisition will augment the Mahindra Logistics’ existing B2B express business, leveraging Rivigo's network of over 250 processing centres and branches
10 Jan 2023 | 2265 Views | By Autocar Pro News Desk
Mahindra Logistics, the integrated third-party logistics (3PL) service provider specialising in supply chain management and part of the Mahindra Group, has acquired fleet-monitoring and logistics service provider Rivigo’s B2B Express business.
As per a BSE filing, the B2B express business has been aquired “on slump sale basis, for a ...
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Mahindra Logistics, the integrated third-party logistics (3PL) service provider specialising in supply chain management and part of the Mahindra Group, has acquired fleet-monitoring and logistics service provider Rivigo’s B2B Express business.
As per a BSE filing, the B2B express business has been aquired “on slump sale basis, for a lump sum consideration of Rs. 225 crore.” Rivigo operates in two key business segments: Full Truck Load and B2B express business. In FY2022, Rivigo's B2B express business earned a turnover of Rs 371.3 crore, Rs 295 crore in FY2021 and Rs 528.5 crore in FY2019.
The acquisition will augment Mahindra Logistics’ existing B2B express business, leveraging Rivigo's network of over 250 processing centres and branches, spanning an area of more than 1.5 million square feet, technology and process capabilities and will drive synergies in network, team and customer service.