Ceva Logistics to acquire Borusan Tedarik in Turkey for $400 million

From Yahoo Finance: 2025-04-26 16:04:00

Ceva Logistics has agreed to acquire Borusan Tedarik for $400 million in cash and debt. Borusan Tedarik offers various logistics services across multiple countries, with a gross revenue of $567 million last year. The acquisition is pending regulatory approvals.

The acquisition of Borusan Tedarik will increase Ceva Logistics’ presence in Turkey, doubling its warehousing space and ground transport activities. The deal will also enhance Ceva’s capabilities in finished vehicle, ocean, and air logistics in Turkey, positioning the company for faster organic growth.

Ceva Logistics CEO Mathieu Friedberg sees Turkey as a strategic market for significant growth. The Borusan Tedarik acquisition will allow Ceva to offer greater value to customers and grow faster in the market. This move is part of CMA CGM’s growth strategy through acquisitions, including Ceva Logistics in 2019.

CMA CGM’s growth strategy includes acquiring large logistics providers like Ceva Logistics and entering joint ventures to accelerate growth. The company also launched its cargo airline three years ago. The Borusan Tedarik acquisition complements CMA CGM’s expansion efforts, following previous acquisitions and joint ventures for strategic growth.

Read more: Ceva Logistics to acquire logistics provider in Turkey