FedEx sells supply chain unit to CMA CGM for $1.4B

FedEx sells supply chain unit to CMA CGM for $1.4B reports that CMA CGM Group, based in France, agreed to acquire FedEx Supply Chain, FedEx’s contract logistics arm, for $1.4 billion in enterprise value. The companies said the deal is expected to close later this year. Once completed, it would nearly triple the scale of Ceva Logistics’ North American contract logistics operations. CMA CGM, built on ocean shipping and privately held, would combine logistics assets to operate about 150 warehouses, expanding Ceva’s footprint in North America to roughly 20,000 employees across more than 240 locations, according to the announcement.

CMA CGM and FedEx plan multi-year commercial agreements for air and ocean freight once the transaction is finalized. CMA CGM will become a preferred ocean carrier under a non-exclusive framework, and both firms will collaborate on selected air cargo capacity solutions to improve network coverage and aircraft utilization. FedEx recently signed a memorandum of understanding with China Southern Airlines for additional air cargo cooperation. The agreements are expected to start in phases between now and 2028, while FedEx will focus on freight transportation and parcel delivery after the sale. Regulatory approvals are required.