CMA CGM completes US$5Bn Bolloré Logistics acquisition

The French shipping giant said the €4.9Bn (US$5.2Bn) Bolloré acquisition is the CMA CGM Group’s largest acquisition since its founding in 1978 and constitutes a major step in the Group’s logistics development strategy, complementing its historical maritime transport line of business. 

The deal will help the French box ship giant hedge against volatility in the container shipping market and gain a foothold in newer segments including the luxury goods, fragrance and cosmetics business, where Bolloré Logistics is a major logistics provider including to major brands LVMH and L’Oreal. 

CMA CGM added that the transfer of Bolloré Logistics Sweden AB to the CMA CGM Group remains subject to the latter obtaining foreign investment clearance in Sweden.

As a leading transport and logistics company in France, and one of the main players in the sector worldwide, Bolloré Logistics achieved a turnover of some €7.1Bn (US$7.7Bn) in 2022, transporting 710,000 TEU of ocean freight and 390,000 tonnes of air freight, along with a storage capacity of 900,000 m². 

“The new entity, made up of CEVA and Bolloré Logistics, is the world’s number 5 in its sector. We will now be able to offer our customers a complete range of services and extend our expertise to new businesses. On behalf of the CMA CGM Group and my family, I would like to welcome the 14,000 employees who are joining us today. Together, we will combine our talents and accelerate our development,” said CMA CGM chief executive Rodolphe Saadé. 

CMA CGM has spent the last few years diversifying its business into logistics owing to the relatively relaxed capex demands and lower volatility.