French Company To Buy FedEx Supply Chain

MARSEILLE, FRANCE - A global logistics company headquartered in

Marseille, France, will acquire FedEx Supply Chain in a move expected

to “nearly triple the size of the North American contract logistics

operations of CEVA Logistics.” On July 1, CMA CGM Group announced

an agreement to acquire FedEx Supply Chain for $1.4 billion. The

acquisition is expected to close later this year. CMA CGM Group says

that the acquisition will dramatically increase operations of subsidiary

company CEVA Logistics. “By integrating FedEx Supply Chain’s assets

and nearly 10,000 team members, CEVA Logistics will become a

leading contract logistics provider in North America. The combined entity would operate approximately 150 warehouses, expanding CEVA’s

overall presence in North America to a combined workforce of 20,000

people located at more than 240 locations,” the company said in a press

release, announcing the purchase. “The acquisition and partnership with

FedEx represent a major step in the development of CEVA Logistics and

our logistics activities in North America. We are strengthening our ability

to provide customers with integrated supply chain solutions. These

deals also reinforce our long-term commitment to investing in the United

States and supporting the resilience and efficiency of its supply chain,”

said Rodolphe Saadé, Chairman and Chief Executive Officer of the

CMA CGM Group.