Mahindra acquires Rivigo’s B2B express business

Mahindra Logistics Ltd (MLL) has acquired the B2B express business of logistics unicorn Rivigo for a consideration of Rs 225 crore. In a communication to the stock exchanges, Mahindra Logistics said the acquisition of the B2B express business of Rivigo was on a ‘slump sale’ basis. This B2B express business of Rivigo had registered a revenue of Rs 371.3 crore for FY 2021-22. The acquisition will include customers, the team, assets, the technology platform, and the Rivigo brand. According to Rivigo, it will continue to own its truck fleet and the rights to the full truck load (FTL) operations, said official release. According to Mahindra Logistics, the acquisition will augment its existing B2B express business leveraging Rivigo’s network of over 250 processing centres and branches, spanning an area of more than 1.5 million sq ft, technology and process capabilities and will drive synergies in network, team and customer service.