-
CMA CGM Group will acquire FedEx Supply Chain, a subsidiary of FedEx Corp., for an enterprise value of $1.4 billion
-
The deal would nearly triple the North American contract logistics operations of CEVA Logistics, CMA CGM’s logistics subsidiary
-
The combined entity would operate approximately 150 warehouses with a workforce of 20,000 people across more than 240 locations in North America
-
The acquisition is expected to close in 2026, subject to regulatory approvals
-
Post-closing, CMA CGM and FedEx will sign other deals: CMA CGM becomes a preferred non-exclusive ocean carrier for FedEx, and they’ll collaborate on select air cargo solutions
CMA CGM Group has agreed to acquire FedEx Supply Chain, a subsidiary of FedEx Corp., for an enterprise value of $1.4 billion, a deal that would vault its CEVA Logistics unit into the top tier of North American contract logistics providers.
In addition, the two global logistics giants are locking in a multi-year air and sea freight commercial alliance.
The acquisition, announced in a joint statement on July 1, is expected to close this year pending regulatory approvals.
Once completed, it would nearly triple CEVA Logistics’ North American contract logistics operations. The combined entity would run approximately 150 warehouses and employ around 20,000 people at more than 240 locations across the region, integrating FedEx Supply Chain’s nearly 10,000 employees into CEVA’s existing North American workforce.
READ: CEVA Logistics, BYD ink 3-year MOU expanding global auto logistics partnership
Beyond the asset transfer, CMA CGM and FedEx said they expect to execute multi-year commercial agreements on ocean and air freight following the close of the transaction. Under a non-exclusive arrangement, CMA CGM would become a preferred ocean carrier for FedEx.
The companies also plan to collaborate on select air cargo capacity solutions to improve aircraft utilization and long-haul capacity across their respective global networks. Those agreements are expected to be phased in between now and 2028.
Rodolphe Saadé, chairman and chief executive officer (CEO) of CMA CGM Group, said, “We are strengthening our ability to provide customers with integrated supply chain solutions. These deals also reinforce our long-term commitment to investing in the United States and supporting the resilience and efficiency of its supply chain.”
READ: CMA CGM named anew Best Global Shipping Line in AFLAS Awards
Raj Subramaniam, president and CEO of FedEx, said the divestiture allows the courier to sharpen its focus on high-value verticals.
“Today’s announcement enables FedEx to further increase our focus on providing our unique expertise for high-value verticals, including healthcare, automotive, aerospace and data centers,” Subramaniam said. “By streamlining our portfolio, FedEx is better positioned to execute our long-term vision and continue to serve as the heartbeat of the industrial economy, delivering unmatched connectivity, reliability, and value to our customers globally.”
READ: FedEx closes fiscal year ending May 31 with $25B Q4 revenue, up 13%
Morgan Stanley and Messier & Associés are serving as financial advisors to CMA CGM, with Cleary Gottlieb acting as legal counsel. JPMorgan is advising FedEx, with Baker McKenzie serving as its legal counsel.
CMA CGM, headquartered in Marseille, is the world’s third-largest shipping company, operating a fleet of more than 700 vessels serving over 420 ports across five continents. The group is present in 177 countries and employs 160,000 people globally.
FedEx Corp. provides transportation, e-commerce, and business services to customers worldwide. It offers a broad portfolio of transportation, e-commerce, and business services to customers and businesses worldwide.
