What Happened
Logistics Giant Expands North American Footprint Through Strategic Acquisition
CMA CGM Group has completed its acquisition of FedEx Supply Chain, a subsidiary of FedEx Corp., at an enterprise value of $1.4 billion. The acquisition significantly expands CEVA Logistics’ contract logistics footprint in North America, bringing nearly 10,000 FedEx Supply Chain employees and approximately 34 million sq ft of additional warehouse space into CEVA Logistics’ network. The combined business will operate around 150 warehouses, taking CEVA’s total North American presence to more than 240 locations and approximately 20,000 employees. This acquisition was first reported by Unknown Source.