CMA CGM strengthens position in Turkey with $440m logistics acquisition

CEVA Logistics, a subsidiary of French liner CMA CGM, is buying Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi, a Turkish outfit, for $440,.  

The deal, which includes Borusan Tedarik subsidiaries in Germany, Bulgaria, Hong Kong and China, remains subject to customary closing conditions and regulatory approvals.

Mathieu Friedberg, the CEO of CEVA Logistics, said: “As a top five global logistics player, we have identified Turkey as one of our strategic geographies where we expect to grow significantly. Complementing our existing presence in Turkey with the reputable experts and operations of Borusan Tedarik would put us in a position to offer even greater value to our combined customers and, as a result, grow faster than the market organically. CEVA is becoming bigger, stronger and smarter, so that we can then grow faster.”

CEVA, bought by CMA CGM in 2019, has integrated large logistics players in recent years, including Ingram Micro’s CLS division, GEFCO, and most recently, Bolloré Logistics.