CMA CGM to Acquire FedEx Supply Chain for $1.4 Billion

Cleary Gottlieb represented CMA CGM, a leading global player in sea, land, air, and logistics solutions, in an agreement to acquire FedEx Supply Chain, a subsidiary of FedEx Corp, at an enterprise value of $1.4 billion.

The acquisition, expected to close in 2026, would nearly triple the size of the North American contract logistics operations of CEVA Logistics, a subsidiary of the CMA CGM Group.

The acquisition reinforces CMA CGM’s commitment and investment in the U.S. supply chain and accelerates its strategy to provide comprehensive end-to-end logistics solutions. By integrating FedEx Supply Chain’s assets and nearly 10,000 team members, CEVA Logistics will become a leading contract logistics provider in North America. 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.

Following the execution of this transaction, CMA CGM and FedEx expect also to enter into multi-year commercial agreements related to air and ocean freight. CMA CGM will become a preferred ocean carrier for FedEx, offering ocean transport and carrier services under a non-exclusive agreement. The companies will also work together on select air cargo capacity solutions to enhance their respective global networks in the interest of higher aircraft utilization and flexible long-haul capacity.

The Cleary M&A team was led by partner Kyle Harris, senior counsel Marie-Laurence Tibi, and associates Adrien Schmieder and Zarinah Mustafa. Partners Séverine Schrameck and Puja Patel and associate Taieb Otmani advised on antitrust matters. Partner Julia Petty and associate Rabab Alajmi advised on executive compensation matters. Partner Kylie Barza and associate Jack Samuel advised on tax matters. Partner Marcela Robledo and associate Natalie Curry advised on IP matters. Partner Chase Kaniecki and associate Alexi Stocker advised on foreign investment matters.