CMA CGM to buy FedEx Supply Chain for $1.4B, boosting North American reach
France’s CMA CGM Group agreed to acquire FedEx Supply Chain, FedEx’s contract logistics unit, for a $1.4 billion enterprise value, a deal that would expand Ceva Logistics’ North American footprint to about 150 warehouses and 20,000 employees across more than 240 locations. The merger will include multi-year agreements on air and ocean freight, with CMA CGM becoming a preferred ocean carrier for FedEx; the deal is expected to close later this year pending regulatory approvals. FedEx will refocus on freight transportation and parcel delivery after spinning off FedEx Freight earlier this year.
3 months ago•Source: FreightWaves
