CMA CGM completes $1.4 billion acquisition of FedEx Supply Chain

CMA CGM has finalized the acquisition of FedEx Supply Chain for an enterprise value of $1.4 billion. The transaction, announced three months ago, integrates FedEx's contract logistics assets into CEVA Logistics, a subsidiary of the French group.

The deal significantly expands CEVA's footprint in North America, adding approximately 34 million square feet of warehouse space and nearly 10,000 employees. This brings CEVA's total North American presence to over 240 locations with a workforce of roughly 20,000 people.

The integration is expected to nearly triple the size of CEVA's contract logistics operations in North America, enhancing capabilities in the healthcare, technology, consumer, and commercial distribution sectors. It also introduces advanced digital tools and warehouse automation technologies. The combined activities will primarily operate within the United States and Canada.