CMA CGM has closed its acquisition of FedEx Supply Chain at an enterprise value of $1.4 billion. The business becomes part of Ceva Logistics, CMA CGM’s logistics subsidiary, adding about 34 million square feet of warehouse space and nearly 10,000 employees.
The combined business will operate about 150 warehouses. Ceva now has more than 240 locations and about 20,000 employees in North America. CMA CGM said the deal nearly triples Ceva’s contract logistics footprint in the region. It also adds 130 customers, FreightWaves reported. Colorado State supply chain professor Zac Rogers estimated in July that the combination would be the sixth-largest 3PL in the US.
CMA CGM will become a preferred ocean carrier for FedEx under a multi-year, non-exclusive agreement. The companies also plan to collaborate on an air cargo capacity agreement on routes including Asia-Europe, which CMA CGM said will improve aircraft utilization and add flexibility on long-haul routes.
“By significantly expanding our contract logistics capabilities, we are strengthening our ability to offer customers integrated, end-to-end supply chain solutions across ocean, air, land and logistics,” said Rodolphe Saadé, CMA CGM’s chairman and CEO.
CMA CGM said the acquisition will speed the deployment of automation and robotics across Ceva’s North American network, where many FedEx Supply Chain facilities already use the technology. The deal also adds to Ceva’s work in healthcare, technology, consumer and retail, CMA CGM said.
FedEx said the sale simplifies its portfolio. FedEx Supply Chain made up less than 2% of FedEx’s consolidated annual revenue, per FreightWaves. FedEx spun off its FedEx Freight trucking business in June.
Maersk, meanwhile, has begun operating Puma’s three US distribution centers. Maersk will rent space at the Torrance, California, site to other brands starting in 2027.
