The CMA CGM Group has announced an agreement to acquire FedEx Supply Chain, a subsidiary of FedEx Corp, at an enterprise value of US$1.4bn. The deal, expected to close in 2026, would nearly triple the size of the North American contract logistics operations run by CEVA Logistics, a CMA CGM subsidiary.
The acquisition builds on CMA CGM’s more than 25-year investment in the US supply chain and advances its strategy to offer end-to-end logistics solutions. By integrating FedEx Supply Chain’s assets and close to 10,000 employees, CEVA Logistics would become a leading contract logistics provider in North America. The combined entity would operate roughly 150 warehouses, expanding CEVA’s overall North American presence to a combined workforce of 20,000 people across more than 240 locations.
Following the transaction, CMA CGM and FedEx also expect to enter multi-year commercial agreements covering air and ocean freight. CMA CGM will become a preferred ocean carrier for FedEx, providing ocean transportation and carrier services under a non-exclusive agreement. The two companies will also collaborate on select air cargo capacity solutions aimed at improving aircraft use and long-haul capacity flexibility across their respective networks.
Rodolphe Saadé, chairman and CEO of the CMA CGM Group, said,”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.”
Raj Subramaniam, president and CEO of FedEx, said, “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.”
The acquisition is expected to close in 2026, subject to customary regulatory approvals, while the air cargo and ocean freight agreements are expected to be phased in between now and 2028. Morgan Stanley and Messier & Associés are acting as financial advisors to CMA CGM, with Cleary Gottlieb as legal counsel. JPMorgan is acting as financial advisor to FedEx, with Baker McKenzie as legal counsel.
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