French shipping company CMA CGM Group to buy FedEx' logistics arm
French container shipping company CMA CGM Group will buy FedEx Supply Chain, the third-party logistics subsidiary of FedEx for $1.4 billion, as it works to expand in the U.S.
CMA CGM Group said the acquisition will triple the size of its own logistics arm, CEVA Logistics and help build its presence as a contract logistics provider in North America.
In 2025, CMA CGM pledged to invest $20 billion in its U.S. warehousing, air cargo and logistics over four years.
The two companies said they expected to enter into multiyear air and ocean freight commercial agreements as well.
