Mahindra Logistics completes acquisition of Rivigo Services; appoints S Venkateswaran as CEO, Legal News, ET LegalWorld – Legal Firms


Mumbai, Mahindra Logistics Ltd (MLL) on Friday said it has completed the acquisition of Rivigo Services and appointed Sreeram Venkateswaran as its chief executive officer. MLL through its subsidiary MLL Express Services closed the transaction with effect from November 10, the company said in a statement.

The company had in September this year announced the acquisition of the B2B express business of Rivigo, saying that the deal will help it accelerate its capabilities in this space.

Venkateswaran, who is currently senior vice for sales, marketing and communication at MLL will be the CEO, while Sunil Singh the chief operating officer (COO), the company said.

Singh has held several operations and business leadership roles, most recently as COO of the express business at Rivigo Services, according to the statement.

Swati Rane, who carries with her over two decades of finance leadership in the Mahindra Group across multiple functional areas, will join the leadership team as chief financial officer (CFO), MLL said.

The company has a long-term vision to grow its B2B express logistics business in India and the combined strengths of the businesses enhance its ability to create long term value for the customers, said Rampraveen Swaminathan, MD and CEO, Mahindra Logistics Limited.

The Gurgaon-based Rivigo, now a brand of MLL Express Services, operates a pan-India B2B express network with a robust client base and a full-service technology suite. Its express network currently covers over 19,000 PIN codes across the country through over 250 processing centres and branches, spanning more than 1.5 million sq ft.

MLL is focussed on offering supply chain solutions by integrating its 3PL, FTL (full truck load) transportation, warehousing, cross-border logistics, last mile and B2B express logistics services.

Integration of Rivigo’s network, technology and process capabilities will strengthen MLL’s existing B2B express business, among others, it said. PTI IAS ABM ABM


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