This logistics company is set to acquire business for Rs 225 crore; shares surge in a lacklustre market!

The acquisition will strengthen the company's current B2B express business and facilitate synergies in the network, team as well as customer service.

The shares of Mahindra Logistics opened higher on Tuesday, soaring more than 5 per cent in the early trade. Following the announcement that Mahindra Logistics had entered into a business transfer agreement with Rivigo Services Pvt Ltd and its proprietor is set to acquire the B2B express business for a sum of Rs 225 crore, the company’s shares experienced a strong price-volume breakout and were seen trading higher despite the indices trading on a flat note.  

A pioneer in the relay trucking model with a strong tech interface, Rivigo was founded in 2014. Two significant business sectors, in which it operates, are full truck loads and B2B express business.  

Utilising Rivigo's extensive network of over 250 processing centres & branches, totalling more than 1.5 million square feet along with its technological & operational excellence, the acquisition will strengthen the company's current B2B express business and facilitate synergies in the network, team as well as customer service.  

Mahindra Logistics, an integrated third-party logistics provider, focusses on supply chain management and enterprise mobility. It provides services to more than 400 corporations in a variety of sectors, including automotive, engineering, consumer products, and e-commerce.  

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