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Mahindra Logistics, a third-party logistics (3PL) solution provider, and cash-strapped logistics unicorn Rivigo on Monday announced that they have reached an agreement for the purchase of RSPL’s B2B express business by MLL.
Under the terms of the agreement, Mahindra will acquire the express business through a Business Transfer Agreement (BTA), including the customers, team and assets of RPSL’s B2B express business, RSPL’s technology platform and the Rivigo brand, an official statement read.
However, RSPL will continue to own its truck fleet and the rights to the full truck load (FTL) operations.
MLL is focused on providing customers supply chain solutions, integrating its 3PL, FTL transportation, warehousing, cross border logistics, last mile and B2B express logistics services.
The acquisition will augment MLL’s existing B2B express business leveraging Rivigo’s strong network, technology and process capabilities.
Gurgaon-based Rivigo operates a pan India B2B express network, has a robust client base and a full-service technology suite. Rivigo’s B2B express network currently covers over 19,000 pin-codes across the nation. Their 250+ processing centres and branches, spanning an area more than 1.5 million sq. ft. will add significant strength to MLL’s express business capability, the company said.
Rampraveen Swaminathan, MD & CEO, Mahindra Logistics Limited said, “B2B Express Logistics continues to see strong tailwinds as customers focus on deepening delivery networks, enhance digital adoption and invest in agile supply chains. This acquisition will enhance and strengthen our offerings and reach for our customers in the B2B express and PTL space. Team Rivigo has built deep capabilities, and we look forward to building on the strengths as we integrate the businesses. We are excited by the team, as they share a common ethos with a shared focus on empowering drivers & communities”.
Deepak Garg, CEO of RSPL said “Rivigo has its foundation in the relay full truck load business. Over the years, we have built a strong brand in the PTL / Express services with pan India network and high-quality technology and service backbone. We believe the customers, and employees of our PTL business will benefit greatly from being part of a high-quality, end-to-end Supply chain services company like MLL.”
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John Miller has been writing about science, gaming, and tech culture for over a decade. He’s a top-rated reviewer with extensive experience helping people find the best deals on tech and more.
