Mahindra Logistics on Monday announced the acquisition of the B2B express business of Gurugram-based logistics firm Rivigo Services, which will help the company accelerate its capabilities in this space.
Mahindra Logistics Ltd (MLL) will acquire the express business through a business transfer agreement (BTA), including the customers, team and assets of Rivigo's B2B express business and its technology platform, Mahindra Logistics said in a statement.
Rivigo, however, will continue to own its truck fleet and the rights to the full truck load (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.
"This will add significant strength to Mahindra Logistics' express business capability," the company said.
B2B express logistics continues to see strong tailwinds as customers deepen delivery networks, enhance digital adoption and invest in agile supply chains, according to Rampraveen Swaminathan, managing director and chief executive officer at Mahindra Logistics.
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.
"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," said Swaminathan.
Rivigo has its foundation in the relay full truck load business, said Deepak Garg, CEO at Rivigo Services Pvt Ltd, adding, "over the years, we have built a brand in the PTL / express services with pan-India network and technology and service backbone.
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First Published: Sep 26 2022 | 9:29 PM IST