Mahindra Logistics (ML) and Rivigo Services (RSPL) announced that they have reached an agreement for the purchase of RSPL’s B2B express business by ML. Under the terms of the agreement, ML will acquire the express business through a Business Transfer Agreement, including the customers, team and assets, technology platform and the Rivigo brand.
Deepak Garg, CEO, RSPL, noted that the company will continue to own its truck fleet and the rights to the full truckload operations.
He said, “Rivigo has its foundation in the relay full truckload 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 ML.”
Rivigo’s B2B express network currently covers over 19,000 PIN codes via 250+ processing centres and branches. The acquisition will augment ML’s existing B2B express business.
Rampraveen Swaminathan, MD & CEO, ML, said, “B2B Express Logistics continues to see strong tailwinds as customers focus on deepening delivery networks, enhancing digital adoption and investing in agile supply chains. This acquisition will enhance and strengthen our offerings and reach for our customers in the B2B express and PTL space.'
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