Mahindra Logistics acquires Rivigo’s B2B Express business for Rs 225 crore
The acquisition will augment the Mahindra Logistics’ existing B2B express business, leveraging Rivigo's network of over 250 processing centres and branches
6278 Views
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.
RELATED ARTICLES
Rajiv Bajaj reappointed MD and CEO of Bajaj Auto for five-year term
Autocar India
19 Mar 2025
Bajaj Auto’s Board of Directors has approved the re-appointment of Rajiv Bajaj as the company’s MD and CEO for another f...
JSW MG Motor launches Comet EV Blackstorm edition
Autocar India
26 Feb 2025
The key highlights of the Comet EV Blackstorm, which is now the top-end variant, are its ‘Starry Black’ exterior along w...
Maruti Suzuki begins production at new Kharkhoda plant
Ajit Dalvi
25 Feb 2025
Phase 1 of the Kharkhoda plant will have an annual production capacity of 250,000 units and produce the Brezza compact S...
