CMA CGM to acquire FedEx Supply Chain unit for $1.4 billion
The CMA CGM Group has agreed to acquire FedEx Supply Chain, a subsidiary of FedEx Corp. (NYSE: FDX), at an enterprise value of $1.4 billion, according to a press release statement from the companies.
The acquisition is expected to close in 2026, subject to regulatory approvals. CMA CGM said the deal would nearly triple the size of the North American contract logistics operations of its subsidiary, CEVA Logistics. The combined entity would operate approximately 150 warehouses across more than 240 locations in North America, with a combined workforce of around 20,000 people.
FedEx Supply Chain currently employs nearly 10,000 team members.
In connection with the transaction, CMA CGM and FedEx also expect to enter into multi-year commercial agreements covering air and ocean freight. Under a non-exclusive arrangement, CMA CGM would become a preferred ocean carrier for FedEx. The two companies also plan to collaborate on air cargo capacity solutions. These agreements are expected to commence in phases between now and 2028.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said the acquisition represents "a major step in the development of CEVA Logistics and our logistics activities in North America."
FedEx President and CEO Raj Subramaniam said the announcement enables FedEx to "further increase our focus on providing our unique expertise for high-value verticals, including healthcare, automotive, aerospace and data centers."
Morgan Stanley and Messier & Associés are serving as financial advisors to CMA CGM, with Cleary Gottlieb as legal counsel. JPMorgan is acting as financial advisor to FedEx, with Baker McKenzie serving as legal counsel.