French shipping giant CMA CGM Group has completed the acquisition of Bolloré Logistics from its compatriot transportation company Bolloré Group.
The two firms announced that the purchase price is €4.85 billion (US$5.25 billion), on the basis of the estimated debt and cash on the completion date.
In 2022, Bolloré Logistics achieved a turnover of €7.1 billion (US$7.7 billion), transported 710,000 TEUs of ocean freight and 390,000 tons of air freight, along with a storage capacity of 900,000 m².
This marks CMA CGM’s largest acquisition since its creation in 1978 and constitutes a major step in the CMA CGM Group’s logistics development strategy.
“The new entity, made up of CEVA and Bolloré Logistics, is the world’s number 5 in its sector,” pointed out Rodolphe Saadé, CEO and Chairman of the CMA CGM Group. “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.”
Cyrille Bolloré, CEO and Chairman of the Bolloré Group, commented, “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”.
According to the statement, it is specified that the transfer of Bolloré Logistics Sweden AB to the CMA CGM Group remains subject to the latter obtaining foreign investment clearance in Sweden.
