en.Wedoany.com Reported - CMA CGM Group has announced the acquisition of FedEx Supply Chain, a subsidiary of FedEx Corp., for an enterprise value of $1.4 billion. The transaction is expected to be completed in 2026.
Upon completion of the acquisition, Ceva Logistics, a subsidiary of CMA CGM, will nearly triple its contract logistics business in North America. By integrating nearly 10,000 team members and approximately 150 warehouses from FedEx Supply Chain, Ceva Logistics will operate over 240 facilities in North America with a total workforce of 20,000 employees, becoming a leading provider in the region's contract logistics sector.
In addition to the acquisition, CMA CGM and FedEx plan to enter into multi-year commercial agreements covering air and sea freight. CMA CGM will become FedEx's preferred ocean carrier, providing ocean freight and cargo services under a non-exclusive agreement. The two parties will also collaborate on select air freight capacity solutions to enhance their respective global network utilization and long-haul capacity flexibility.
Rodolphe Saadé, Chairman and CEO of CMA CGM Group, stated that this move is a key step in the development of Ceva Logistics and the Group's logistics business in North America, enhancing its ability to provide integrated supply chain solutions and reinforcing the Group's long-term investment commitment to the United States. Raj Subramaniam, President and CEO of FedEx, noted that the transaction allows FedEx to focus more on high-value vertical industries such as healthcare, automotive, aerospace, and data centers, while executing its long-term vision by simplifying its business portfolio.
The acquisition is expected to be completed in 2026, subject to customary regulatory approvals. The air and sea freight agreements are expected to be phased in between now and 2028.
Financial and legal advisors for the transaction include: Morgan Stanley and Messier & Associés serving as financial advisors to CMA CGM, with Cleary Gottlieb providing legal support; JPMorgan serving as financial advisor to FedEx, with Baker McKenzie providing legal services.
