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CMA CGM has agreed to acquire contract logistics provider FedEx Supply Chain for $1.4 billion, the companies announced Wednesday.
The deal, which is expected to close in 2026, would nearly triple the size of CMA CGM subsidiary CEVA Logistics' contract logistics operations in North America. FedEx Supply Chain has nearly 10,000 employees, according to the release.
"The combined entity would operate approximately 150 warehouses, expanding CEVA’s overall presence in North America to a combined workforce of 20,000 people located at more than 240 locations," the release said.
Once the deal is executed, FedEx and CMA CGM also plan to enter into multiyear ocean and air freight agreements, which are slated to commence in different phases between now and 2028. CMA CGM will become FedEx's preferred ocean carrier under a non-exclusive agreement. The companies will also collaborate "on select air cargo capacity solutions" to improve aircraft utilization and flexibility for long-haul capacity.
