CMA CGM Group announced an agreement to acquire FedEx Supply Chain, a subsidiary of FedEx, at an enterprise value of $1.4 billion. The transaction is expected to close in 2026, subject to customary regulatory approvals.
The acquisition would nearly triple the size of CEVA Logistics’ North American contract logistics operations. CEVA Logistics is a subsidiary of CMA CGM Group.
CMA CGM said the deal reinforces its more than 25-year commitment to the U.S. supply chain. The company said the acquisition also accelerates its strategy of providing comprehensive end-to-end logistics solutions across sea, land, air, and contract logistics.
By integrating FedEx Supply Chain’s assets and nearly 10,000 team members, CEVA Logistics would become a leading contract logistics provider in North America. The combined entity would operate about 150 warehouses.
The transaction would expand CEVA’s overall presence in North America to a combined workforce of 20,000 people across more than 240 locations. The expanded platform is expected to strengthen CMA CGM’s ability to serve customers with integrated logistics and supply chain solutions.
Following the transaction, CMA CGM and FedEx also expect to enter into multi-year commercial agreements related to ocean and air freight. Under a non-exclusive agreement, CMA CGM would become a preferred ocean carrier for FedEx.
The companies also plan to work together on select air cargo capacity solutions. These arrangements are intended to support higher aircraft utilization and flexible long-haul capacity across their respective global networks.
The air cargo and ocean freight agreements are expected to begin in phases between now and 2028. CMA CGM said these agreements will support the strategic priorities of both companies.
For FedEx, the sale supports a streamlined portfolio and increased focus on high-value verticals. These include healthcare, automotive, aerospace, and data centers.
Morgan Stanley and Messier & Associés are acting as financial advisors to CMA CGM. Cleary Gottlieb is serving as legal counsel to CMA CGM, while JPMorgan is acting as financial advisor to FedEx and Baker McKenzie is serving as legal counsel to FedEx.
KEY QUOTES:
“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.”
Rodolphe Saadé, Chairman and CEO of CMA CGM Group
“Today’s announcement enables FedEx to further increase our focus on providing our unique expertise for high-value verticals, including healthcare, automotive, aerospace and data centers. By streamlining our portfolio, FedEx is better positioned to execute our long-term vision and continue to serve as the heartbeat of the industrial economy, delivering unmatched connectivity, reliability, and value to our customers globally. We look forward to leveraging our complementary relationship with global logistics solutions provider CMA CGM to support the next chapter for FedEx Supply Chain and its team members.”
Raj Subramaniam, President and CEO of FedEx
