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French Shipping Company CMA CGM Group to Buy FedEx' Logistics Arm for $1.4B
The deal would expand CMA CGM’s U.S. logistics footprint and add multiyear air and ocean freight agreements, the companies said.
- On Wednesday, July 1, FedEx agreed to sell its FedEx Supply Chain subsidiary to CMA CGM Group for approximately $1.4 billion, sharply expanding the French shipping company's North American contract logistics business.
- FedEx is streamlining its portfolio to focus on high-margin business-to-business deliveries in healthcare, aerospace, and data centers, a strategy that followed the June 1 spinoff of FedEx Freight.
- Ceva Logistics, CMA CGM's logistics subsidiary, will nearly triple its North American operations by adding about 10,000 employees, creating a combined workforce of 20,000 people across more than 240 locations.
- Beyond the sale, FedEx and CMA CGM plan multiyear commercial agreements for air and ocean freight, with services aimed at improving aircraft utilization and phasing in through 2028.
- Pending customary regulatory approvals, the acquisition is expected to close later this year. CMA CGM Chairman Rodolphe Saadé said the deal "reinforces our long-term commitment to investing in the United States.
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CMA CGM To Acquire FedEx Supply Chain For $1.4 Billion
French shipping and logistics company CMA CGM Group has agreed to acquire FedEx Supply Chain for approximately $1.4 billion, marking a major expansion of its contract logistics operations in North America. The transaction is part of FedEx's broader strategy to streamline its business and concentrate on higher-margin sectors, including healthcare, aerospace and data center logistics.💡The acquisition will significantly strengthen CMA CGM's logist…
The French shipowner announces a global agreement of nearly $5 billion with the Memphis group.
·Paris, France
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Coverage Details
Total News Sources64
Leaning Left6Leaning Right3Center17Last UpdatedBias Distribution65% Center
Bias Distribution
- 65% of the sources are Center
65% Center
L 23%
C 65%
12%
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