French shipping company, CMA CGM Group, has granted a put option to Bolloré Group to sell the transport and logistics operations of Bolloré Logistics. The put option was granted at the end of the exclusive discussions period that was announced on April 18, and Bolloré Group has accepted the proposal. However, the final completion of the transaction remains subject to examination by employee representation and customary regulatory approvals.
If the acquisition is successfully finalized, it would significantly strengthen the CMA CGM Group’s logistics business and position it as one of the top five players in global logistics. The combined operations of CMA CGM Group’s logistics activities and Bolloré Logistics would have combined revenues of approximately USD 24 billion, based on 2022 results.
The acquisition of Bolloré Logistics would further strengthen the sea and air freight activities of the Group’s logistics division, following the acquisitions of Ingram Micro Commerce & Lifecycle Services and Colis Privé, which boosted CEVA’s capabilities in eCommerce contract logistics and automotive logistics, respectively. The combined entity would have an annual shipping volume equivalent to more than 2 million TEUs of sea freight and 0.8 million tons of air freight.
Moreover, the CMA CGM Group already operates in more than 160 countries, with 155,000 employees. The acquisition would add more than 14,000 new employees operating out of 350 offices in 63 different countries. The Group’s warehouse space would increase by more than 900,000 square meters at 115 different warehouses, in addition to the 10.3 million square meters already managed by CEVA at its 900 warehouses around the world. The acquisition would also open up access to major logistics hubs, especially in France and Asia.
With the addition of Bolloré Logistics, the CMA CGM Group and its subsidiary, CEVA Logistics, would gain further expertise in high-value sectors, including transport and logistics solutions for the luxury goods, fragrances and cosmetics, healthcare, aerospace, and defense sectors. The acquisition would also bring in top-tier customers, including some of the top names in French industry and other leading multinationals.
For the CMA CGM Group, this acquisition would be a major step forward in its development of a full range of solutions supporting customers’ supply chains through handling end-to-end transport and logistics. This deal would be the largest since the CMA CGM Group was founded in 1978 and would represent a major strategic milestone in the Group’s development of its logistics activities, which the Group has been building since 2019, alongside the original CMA CGM shipping business.