Mahindra Logistics acquires last-mile delivery firm ZipZap for Rs 72 crore

Mahindra will acquire 60% in the Hyderabad-based firm through primary and secondary purchases in two phases

Mahindra Logistics, a third-party logistic solutions provider said it has acquired a majority stake in ZipZap Logistics, a last-mile logistics service provider that operates under its brand ‘Whizzard.’ Mahindra will acquire 60 per cent in the Hyderabad-based firm for Rs 71.73 crore through primary and secondary purchases in two phases. It would also buy out the reminder of the stake at a later stage and make it a fully-owned subsidiary. MLL will complete the acquisition before November 30 2023.

The acquisition will help MLL make deeper inroads into smaller towns and cities where Whizzard has a strong presence.  It will help