CMA CGM Group to Acquire FedEx Supply Chain at an Enterprise Value of $1.4 billion, Strengthening Its Logistics Presence in North America

The CMA CGM Group, a leading global player in sea, land, air and logistics solutions, today announced an agreement to acquire FedEx Supply Chain, a subsidiary of FedEx Corp, at an enterprise value of $1.4 billion. The acquisition, expected to close in 2026, would nearly triple the size of the North American contract logistics operations of CEVA Logistics, a subsidiary of the CMA CGM Group.

The acquisition reinforces CMA CGM's more than 25-year commitment and investment in the United States supply chain and accelerates its strategy to provide comprehensive end-to-end logistics solutions. By integrating FedEx Supply Chain's assets and nearly 10,000 team members, CEVA Logistics will become a leading contract logistics provider in North America. The combined entity would operate approximately 150 warehouses, expanding CEVA's overall presence in North America to a combined workforce of 20,000 people located at more than 240 locations.

Following the execution of this transaction, CMA CGM and FedEx expect also to enter into multi-year commercial agreements related to air and ocean freight. CMA CGM will become a preferred ocean carrier for FedEx, offering ocean transport and carrier services under a non-exclusive agreement. The companies will also work together on select air cargo capacity solutions to enhance their respective global networks in the interest of higher aircraft utilization and flexible long-haul capacity.

Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, stated:
"The acquisition and partnership with FedEx represent a major step in the development of CEVA Logistics and our logistics activities in North America. We are strengthening our ability to provide customers with integrated supply chain solutions. These deals also reinforce our long-term commitment to investing in the United States and supporting the resilience and efficiency of its supply chain."

Raj Subramaniam, President and CEO of FedEx, added: "Today's announcement enables FedEx to further increase our focus on providing our unique expertise for high-value verticals, including healthcare, automotive, aerospace and data centers. By streamlining our portfolio, FedEx is better positioned to execute our long-term vision and continue to serve as the heartbeat of the industrial economy, delivering unmatched connectivity, reliability, and value to our customers globally. We look forward to leveraging our complementary relationship with global logistics solutions provider CMA CGM to support the next chapter for FedEx Supply Chain and its team members."

Transaction closing and approvals
The acquisition is expected to close in 2026, subject to customary regulatory approvals. The air cargo and ocean freight agreements are expected to commence in different phases between now and 2028. Morgan Stanley and Messier & Associés are acting as financial advisors to CMA CGM, and Cleary Gottlieb is acting as legal counsel to CMA CGM. JPMorgan is acting as financial advisor to FedEx, and Baker McKenzie is acting as legal counsel to FedEx.

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About the CMA CGM Group
The CMA CGM Group is a global player in sea, land, air and logistics solutions, true to its corporate Purpose: We imagine better ways to serve a world in motion.
Present in 177 countries, it employs 160,000 people, including nearly 6,000 in Marseille, where its head office is located.
As the world's third-largest shipping company, CMA CGM serves more than 420 ports across five continents with a fleet of over 700 vessels. In 2025, CMA CGM carried more than 24 million twenty-foot equivalent containers (TEUs). Its subsidiary, CEVA Logistics, one of the top five global players, operates 1,000 warehouses and handled 15 million shipments in 2025. The Group's air division operates a fleet of cargo aircraft under the CMA CGM AIR CARGO and Air Belgium brands.
CMA Media, the third-largest private media group in France, brings together RMC-BFM and several national and regional press titles (La Tribune Dimanche, La Tribune, La Provence, and Corse Matin) as well as the social media platform Brut.
Committed to the energy transition, the CMA CGM Group aims for Net Zero Carbon by 2050.
The CMA CGM Foundation provides humanitarian aid in crisis situations and supports education and equal opportunities worldwide. To date, the Foundation has transported 120,000 tonnes of humanitarian aid to 106 countries and supported over 630 projects in France, Lebanon, and around the world.

Find out more about the CMA CGM Group at: cmacgm-group.com

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About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $86 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 450,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

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CMA CGM
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Steve Power
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FedEx
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