French shipping company CMA CGM has completed the largest acquisition in its history with the €4.85bn ($5.24bn) purchase of Bolloré Logistics from The Bolloré Group.
The purchase includes the entirety of the transport and logistics company, though the transfer of Bolloré Logistics Sweden is currently subject to foreign investment approval in Sweden.
CMA CGM Chairman and CEO Rodolphe Saadé said: “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 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.” The previously family-run Bolloré Logistics, which saw a turnover of €7.1bn ($7.6bn) in 2022, was founded in 1986 and has since grown to have an ocean freight capacity of 710,000 TEUs, a storage capacity of 900,000m2 across 358 sites, and an air freight capacity of 390,000 tons.
