CMA CGM buys Bolloré Logistics for almost €5 billion

by Payload Asia

 

On 29 February, CMA CGM completed the purchase of French firm Bolloré Logistics with a deal worth 4.850 billion euros.

The latest acquisition is CMA CGM’s largest to date since its creation in 1978 and will create another powerhouse in the shipping and logistics sector.

The new combined entity will be made up of CEVA and Bolloré Logistics, which is expected to position it as the world’s number 5 in the industry. Some 14,000 employees will be integrated into the merged organisaton.

In 2022, Bolloré Logistics achieved a turnover of 7.1 billion euros, transported 710,000 TEUs of ocean freight and 390,000 tonnes of air freight, along with a storage capacity of 900,000 square metres.

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

Mr. Rodolphe Saadé, CEO and Chairman of the CMA CGM Group, declared: “I would like to thank the Bolloré Group for the trustful dialogue we have established over the last few months to successfully finalize this acquisition. Within the CMA CGM Group, we are proud to welcome a French flagship built on years of work and experience.

“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!”

Cyrille Bolloré, CEO and Chairman of the Bolloré Group, added: “This is the beginning of a new chapter for Bolloré Logistics’ employees. I am very pleased that they are joining the CMA CGM Group and the Saadé family. They will bring unique expertise and know-how, which have long made the pride of the Group and which will be the pride of CMA CGM tomorrow. It is also a great opportunity for our customers around the world and I would like to take this opportunity to thank them for their trust and loyalty.”