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CMA CGM completes $1.4bn FedEx Supply Chain takeover
CMA CGM announced it completed the $1.4bn acquisition of FedEx’s contract logistics business FedEx Supply Chain, which will be folded into Ceva.
CMA CGM announced the completion of its $1.4bn takeover of FedEx Supply Chain, FedEx’s contract logistics business. The unit is to be folded into CMA CGM’s contract logistics arm Ceva.
According to CMA CGM, the deal will almost treble Ceva’s North American footprint. It adds around 34m sq ft of warehouse space.
The combined operations in the region will span 150 warehouses and employ around 20,000 people.
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