CMA CGM strengthens strategic logistics development with Gefco acquisition

PRESS RELEASE 

– Acquisition of nearly 100% of GEFCO, European leader in automotive logistics.

– With the acquisition, the CMA CGM Group ensures the continuity and long-term stability of GEFCO’s business.

– Deal will accelerate GEFCO’s transformation and strengthen its development within CEVA Logistics.

The CMA CGM Group, a world leader in shipping and logistics, is acquiring nearly 100% of the capital of GEFCO, European leader in automotive logistics and international expert in multimodal supply chain. The acquisition has been submitted to competition authorities for approval. However, as part of a special procedure, the European Commission has authorized CMA CGM to acquire the capital of GEFCO immediately, pending the final approval that will take place in the coming months. The acquisition will strengthen the range of logistics services that CEVA Logistics, CMA CGM’s logistics subsidiary, provides to its customers, especially in France and the rest of Europe.

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, commented: “The acquisition of GEFCO represents a further step in our development strategy and strengthens our position as a global player in transport and logistics. With GEFCO, our subsidiary CEVA will become the world leader in automotive logistics, having recently enhanced its capabilities in e-commerce logistics with the acquisition of Ingram Micro CLS. We are creating a French leader to serve our customers around the world.”

CMA CGM’s expertise to support GEFCO’s transformation, take its performance to the next level The CMA CGM Group’s intention is for GEFCO to continue operating in a secure regulatory framework, then to boost its development, especially in international markets, by harnessing the Group’s marketleading technology and logistics capabilities. GEFCO will benefit in the future from CEVA Logistics’ expertise and network, enabling it to expand both its business and its customer portfolio.

The acquisition of GEFCO and its integration within CEVA Logistics will create the world’s leading automotive logistics provider and will reinforce CEVA’s leadership position in contract logistics. Thanks to the addition of GEFCO, CEVA Logistics will continue expanding around the world and strengthening its position in key markets, especially France and the rest of Europe.

The full release can be found here.