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CMA CGM Group has completed acquisition of Bolloré Logistics for 4.850 billion euros ($5.247 billion), its largest deal since its inception in 1978
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The transfer of Bolloré Logistics Sweden AB to the CMA CGM Group is pending foreign investment clearance in Sweden
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Bolloré Logistics achieved a turnover of €7.1 billion in 2022
CMA CGM Group has completed acquisition of Bolloré Logistics for 4.850 billion euros ($5.247 billion), its largest deal since its inception in 1978, the French shipping and logistics firm announced on February 29.
While the sale of 100 % of Bolloré Logistics to CMA CGM is considered complete, the transfer of Bolloré Logistics Sweden AB to the CMA CGM Group is pending foreign investment clearance in Sweden.
French transport and logistics company Bolloré Logistics had a turnover of €7.1 billion ($7.681) in 2022. The company, with a storage capacity of 900,000 m2, transported 710,000 TEUs of ocean freight, and 390,000 tons of air freight.
CMA CGM said the strategic acquisition aligns with its logistics development strategy, complementing its existing maritime transport operations.
Rodolphe Saadé, CEO and chairman of the CMA CGM Group, in a statement expressed gratitude to the Bolloré Group for their collaborative efforts, saying, “The new entity, made up of CEVA and Bolloré Logistics, is the world’s number (five) in its sector. We will now be able to offer our customers a complete range of services and extend our expertise to new businesses.”
Bolloré Group CEO and chairman Cyrille Bolloré said, “This is the beginning of a new chapter for Bolloré Logistics’ employees” as he expressed satisfaction at joining forces with the CMA CGM Group and the Saadé family that controls it.
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