CEVA expands in Africa with latest acquistion
13 / 07 / 2022
By Damian Brett
Fast-growing CEVA Logistics is expanding its presence in Africa through the purchase of forwarder Spedag Interfreight.
Spedag has offices in several countries in east Africa and specialises in energy and infrastructure, aid and relief, oil and gas, and commodities.
The company employs around 400 people in 24 locations in Kenya, Uganda, Tanzania, Rwanda and South Sudan.
CEVA, which is owned by container shipping giant CMA CGM, said that the purchase is part of efforts to make the African market account for a significant share of its revenues by 2025.
The company’s chief executive, Mathieu Friedberg, said: “With the addition of Spedag Interfreight in East Africa, we are continuing to execute key regional initiatives in our strategic growth plan.
“This acquisition is the perfect follow-on to our organic growth and M&A activity in Africa over the past two years, as well as the recent acquisitions of Ingram Micro CLS and Colis Privé. Our global scale allows us to offer a wide range of responsive logistics solutions thanks to our experienced local teams.”
CEVA purchased the logistics entity from the M+R Spedag Group, a family-owned transport and logistics company headquartered in Switzerland.
The acquisition announcement comes after finalising all customary closing conditions, including receiving regulatory approvals by relevant authorities.
The deal is the latest in a series of acquisitions this year made through parent CMA CGM. The group has also purchased Ingram Micro’s former Commerce & Lifecycle Services business and Colis Privé, a France-based last-mile provider.
And in April, it signed an agreement to purchase nearly 100% of the capital of GEFCO, the European automotive logistics firm.