Mahindra and Mahindra Ltd’s service arm Mahindra First Choice (MFC) Services on Monday announced that the company that it has entered into an asset acquisition agreement with Carnation Auto (India) Pvt. Ltd, a Noida-based aftersales and service company.
As a result, MFC Services will acquire key assets of Carnation’s car-servicing business including the trademark ‘Carnation’, its website, software licenses and Carnation’s workshop network.
This new acquisition will help MFC Services’s strategic vision of organizing the unorganized Indian automotive aftermarket industry.
This asset acquisition does not include the liabilities and past dues of Carnation, which is currently under liquidation. Mahindra First Choice will now increase its presence in metro cities, especially in Delhi, the National Capital Region (NCR) centred on Delhi, and Mumbai—regions strategic to its business growth plans.
“With this acquisition, we will add significantly to MFC Services existing network of 330 workshops. This will enhance our presence across India and help us offer our customers a more comprehensive and attractive service solution,” said Y.V.S. Vijay Kumar, chief executive of Mahindra First Choice Services.
Interestingly, Carnation was founded by Maruti Suzuki’s former managing director Jagdish Khattar in 2008.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.