CMA CGM completes Bolloré Logistics acquisition

The CMA CGM Group has completed its largest acquisition since its formation with the takeover of Bolloré Logistics from the Bolloré Group.

This follows the European Commission’s recent approval of the acquisition, which has an approximate purchase price of €4.850bn.

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

CMA CGM said this deal is its largest acquisition since its creation in 1978 and constitutes a major step in the CMA CGM Group’s logistics development strategy, complementing its historical maritime transport line of business.

Rodolphe Saadé, chief executive and chairman of the CMA CGM Group, said: “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, chief executive 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.”

A major transport and logistics company, France headquartered Bolloré Logistics is built around expertise covering five services areas: multimodal transportation, customs and statutory compliance, logistics, global supply chain, industrial projects. The business has a presence on five continents and in 111 countries.

The company achieved a turnover of €7.1bn in 2022, and transported 710,000 TEUs of ocean freight and 390,000 tons of airfreight.

Bolloré Logistics’ contract logistics subsidiary, Bolloré Solutions Logistiques (BSL) has just this week announced it has acquired STEF Logistique Santé (SLS) to grow its contract logistics business and strengthen its expertise in the pharmaceutical industry.

With CMA CGM’s acquisition, Bolloré Logistics will now be combined with that of CMA CGM’s CEVA Logistics to create a powerful airfreight forwarder.

Traditionally operating in shipping, CMA CGM has been diversifying its operations in recent years.

Its biggest acquisition in the logistics sphere came in 2018 and 2019 when over a period of several months it acquired a majority shareholding in CEVA Logistics.

More recently it acquired automotive logistics firm Gefco.

The Group has been investing in the development of its CMA CGM Air Cargo business since its launch in 2022.

Bolloré Logistics’ Henri Le Gouis was last year “positive” on the takeover in an interview with Air Cargo News, and noted the industry was in a period of consolidation.

European Commission approves CMA CGM takeover of Bolloré Logistics