CMA CGM Completes Acquisition of FedEx Supply Chain for $1.4 Billion
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Share CMA CGM has completed the acquisition of FedEx Supply Chain for an enterprise value of $1.4 billion, three months after announcing the agreement with FedEx. The operation places the contract logistics assets of the American company within CEVA Logistics, a subsidiary of the French group, and substantially expands its network in North America. The closing of the transaction, announced this October 1, incorporates FedEx Supply Chain's assets and nearly 10,000 employees into CEVA. The company also adds approximately 34 million square feet of storage space from the acquired business. As a result, the combined activities reach about 150 warehouses and CEVA's total presence in North America exceeds 240 locations, with an approximate workforce of 20,000 people. CMA CGM and FedEx had announced the operation on July 1, when they established an enterprise value of $1.4 billion and conditioned the closing on obtaining the corresponding regulatory authorizations. At that time, both companies estimated that the incorporation of FedEx Supply Chain would almost triple the size of CEVA's contract logistics operations in North America. FedEx Supply Chain develops comprehensive supply chain management services. Its incorporation expands CEVA's capabilities in sectors such as healthcare, technology, consumer, and commercial distribution, in addition to incorporating digital and...
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