Mahindra Logistics Ltd. (MLL), one of India’s integrated logistics & mobility solutions providers, completed the acquisition of B2B express business of Rivigo Services Pvt. Ltd.’s (RSPL). MLL last week, through its subsidiary MLL Express Services Pvt. Ltd. (MESPL). As per a BSE filing, the B2B business was acquired for Rs 225 crore.
With the acquired B2B Express delivery business of Rivigo, Mahindra aims to leverage Rivigo’s existing network to bolster its own third-party logistics (3PL) services. Rivigo’s technology and process capabilities will help Mahindra Logistics drive synergy in its own network and customer service.
Post a leadership re-shuffle, Sreeram Venkateswaran, who is currently Sr. VP Sales, Marketing & Communications of Mahindra Logistics, will head MESPL as Chief Executive Officer (CEO). Sunil Singh appointed as Chief Operating Officer (COO) and Swati Rane will join the leadership team as Chief Financial Officer (CFO). Sunil was the COO of the Express Business at Rivigo Services Private Ltd., and Swati brings along over 2 decades of finance leadership in the Mahindra Group, across multiple functional areas.
“We are excited about our long-term vision to grow our B2B express logistics business in India and the combined strengths of the businesses enhance our ability to create long term value for our customers. We have great confidence in the leadership team and believe they will provide the right impetus for growth. “Rampraveen Swaminathan, MD & CEO, Mahindra Logistics Limited
Mahindra Logistics is focussed on offering supply chain solutions to customers by integrating its 3PL, FTL transportation, warehousing, cross-border logistics, last mile and B2B express logistics services. On the other hand, Rivigo comes in with the capabilities of a pan India B2B express network, 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 adding to Mahindra Logistics’ existing reach.