Mahindra Logistics to Acquire Rivigo’s B2b Express Operations
Mahindra Logistics Ltd and technology-based logistics company Rivigo Services Pvt Ltd have reached an agreement wherein the former will acquire the latter’s b2b express operations for Rs 225 crore. Mahindra Logistics entered into a business transfer agreement with Rivigo Services and its promotor for the acquisition of the b2b express operations of Rivigo along with all its rights, title, beneficial ownership and interest therein as a growing concern or slump sale basis. Mahindra Logistics will also acquire the customers, team, and assets of Rivigo’s b2b express operations, the technology platform, and the Rivigo brand. The acquisition is slated to be completed on or before November. Rivigo’s b2b express network currently covers over 19,000 pin codes across the nation and the company’s 250 plus processing centres and branches and will add significant strength to Mahindra Logistics express business capability. Mahindra Logistics part of the Mahindra Group is an integrated Logistics company focused on providing customers supply chain solutions, third-party logistics services, full-truckload transportation, warehousing, cross border logistics, last mile and business-to-business express logistics services.
Tags : Mahindra Logistics Ltd technology logistics company Rivigo Services Pvt Ltd agreement