Mahindra Logistics Ltd. (MLL) acquires B2B express business of Rivigo Services, a logistics firm for ₹225 crore. The transfer will be effective from October 1.
According to the terms of the agreement, MLL would acquire Rivigo’s business, including the start-customers, up’s team, and assets, as well as the B2B express business, technology platform, and the Rivigo brand, through a Business Transfer Agreement (BTA). According to the company, the acquisition would supplement MLL’s existing B2B express business by leveraging Rivigo’s network, technology, and process capabilities. Rivigo, based in Gurgaon, covers 19,000 pin codes across the country.