CMA CGM’s acquisition of Bolloré Logistics’ operations – the largest in the group’s history – became official on 29 February 2024. The transaction is valued at €4.850 billion.

Mathieu Friedberg, Chief Executive of CEVA Logistics, has been appointed Chief Executive of Bolloré Logistics.

Thierry Ehrenbogen, former CEO of Bolloré Logistics, has been appointed Vice-President in charge of development and key account strategy at CMA CGM.

Mathieu Friedberg highlights the strategic direction set by CMA CGM in 2019, which involves investing in the logistics sector through the acquisition of CEVA. The acquisition of Bolloré Logistics therefore consolidates CMA CGM’s position, which is built on two pillars: maritime transport and logistics.

It will enable the group to expand its reach, given that it already owns CEVA. It is thus consolidating its expertise in the management of air and sea freight. In five years, the group – which previously had little or no presence in this sector of global logistics – has entered the Top 5.

The group’s logistics operations are growing rapidly. Matthieu Friedberg explains: “To remain responsive to our customers’ needs, we are strengthening our logistics activities through several key acquisitions in specific business lines and geographical markets. We needed to achieve a critical mass and develop our expertise in the management of sea and air freight.”

Several steps have enabled this transformation: since April 2023, the group has had to prepare for the arrival of Bolloré Logistics whilst continuing the integration of Gefco and Ingram Micro CLS. “We had to cope with a fairly rapid market downturn in sea and air freight, whilst continuing to pursue our growth objectives,” he added.

Following the acquisition of Ingram Micro CLS in April 2022, 20,000 employees joined CEVA Logistics. In five years, the logistics division will have tripled in size, bringing its workforce to 86,000 employees. The acquisitions of Colis Privé in April 2022 and Gefco in July
2022 (12,000 employees) have strengthened the division and also expanded its presence on the African continent (Spedag Interfreight in 2022), in China (with FM Logistics’ contract logistics business) and in India (Stellar Value Chain Solutions).

Number 5 in global logistics

Mathieu Friedbert explains that the operations of CEVA and Bolloré Logistics, which are secondary players in air and sea freight, will enable them to strengthen their competitiveness by complementing one another to become the fifth-largest operator in terms of volume.

In France, the group’s logistics presence is growing, making it the country’s largest logistics provider, whilst also expanding into new geographical areas. The group benefits from the presence of CEVA and Bolloré Logistics in Europe, the Asia-Pacific region and the Americas. Bolloré Logistics brings its expertise in niche sectors such as luxury goods, beauty, aerospace, defence and healthcare.

Next steps

Now that the acquisition is official, it is time to coordinate operations within the CMA CGM Group’s Logistics division. With a fairly similar culture, commercial approach and expertise, the commonalities and differences between the two entities must be examined in order to strengthen operations, services and offerings, and thus build an efficient joint organisation serving customers.

The Bolloré brand will be retained by the parent company during a transitional period. However, in the long term, the Bolloré Logistics brand will be replaced by CEVA Logistics.

Shared pride

The Group has committed to retaining all 14,000 employees without any redundancy scheme during the first year and to guaranteeing the current rights of Bolloré employees for three years, as well as the use of their premises for one year.

Rodolphe Saadé thanked the Bolloré Group for the dialogue based on trust that enabled this acquisition to be successfully finalised. “Within the CMA CGM Group, we are proud to welcome a French flagship built on years of hard work and experience.”

Cyrille Bolloré said: “A new chapter is beginning for Bolloré Logistics’ staff. I am delighted that they are joining the CMA CGM Group and the Saadé family.”

Sources: CMA CGM/Bolloré press release 29 February 2024 – Voxlog 2 March 2024