Mahindra Logistics buys Rivigo’s B2B express biz for Rs 225cr

During FY 2021-22, Rivigo’s B2B express business reported a turnover of Rs 371.3 crore.

Mahindra Logistics today announced the acquisition of the B2B express business of Rivigo for Rs 225 crore ($28 million) in cash. “Rivigo operates in two key business segments: Full Truck Load and B2B express business. During FY 2021-22, Rivigo’s B2B express business earned a turnover of Rs 371.3 crore,” according to the release issued to the Bombay Stock Exchange by Mahindra Logistics. The acquisition will augment the company’s existing B2B express business leveraging Rivigo’s strong network of 250+ processing centres and branches, spanning an area of more than 1.5 million sq.ft. and technology and process capabilities, the release added.

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