CMA CGM Acquires FedEx Supply Chain for $1.4 Billion to Expand North American Logistics

CMA CGM announced on Wednesday, July 1, that it has agreed to acquire FedEx Supply Chain, the third-party logistics business of FedEx, for $1.4 billion enterprise value. The transaction is expected to close later this year and will significantly expand CEVA Logistics, CMA CGM's logistics subsidiary, in the North American contract logistics market.

Upon completion, CEVA Logistics will operate approximately 150 warehouses and employ around 20,000 people across North America. The two companies also plan to deepen partnerships in ocean shipping, air freight, and contract logistics to expand their integrated global supply chain capabilities.