Ceva Logistics, part of the CMA CGM Group, has announced its agreement to acquire Turkey-based logistics provider Borusan Tedarik for $400 million. The deal, which includes both cash and debt components, is subject to closing conditions and regulatory approvals.
Borusan Tedarik offers a range of logistics services, including contract logistics, finished vehicle logistics, truckload and less-than-truckload services, air and ocean freight management, and customs brokerage. The company operates not only in Turkey but also in Germany, Bulgaria, Hong Kong, and China. In 2024, Borusan Tedarik reported gross revenue of $567 million.
The acquisition will expand Ceva’s existing operations in Turkey, nearly doubling its warehousing and distribution capacity to 12.9 million square feet. The combined ground transport operations of the two companies will manage approximately 1 million loads per year. Additionally, the deal is expected to enhance Ceva’s capabilities in finished vehicle, ocean, and air logistics in the region.
Ceva Logistics views Turkey as a key market for growth, and the acquisition of Borusan Tedarik is seen as a strategic move to strengthen its position in the country. CEO Mathieu Friedberg emphasized that the expanded operations would enable Ceva to offer enhanced services to its customers and drive growth in the region.
This acquisition follows a series of strategic moves by CMA CGM to expand its logistics capabilities. Since acquiring Ceva Logistics in 2019, CMA CGM has integrated several large logistics providers, including Bolloré Logistics, GEFCO, and Ingram Micro’s commerce and lifestyle services business. The company has also made a number of smaller acquisitions and formed joint ventures to bolster its presence in key markets.
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