CMA CGM has made a $3bn move in the e-commerce contract logistics space in a deal with Ingram Micro.
As the container line continues to up its presence in the logistics and supply chain markets CMA CGM is to acquire “most” of of Ingram Micro’s Commerce & Lifecycle Services activities (CLS), including Shipwire and the company’s technology forward logistics businesses in North America, Europe, Latin America and Asia-Pacific. The deal has an enterprise value of $3bn.
The combination of the CLS businesses from Ingram Micro combined with CMA CGM’s Ceva Logistics, will make it the world’s fourth largest contract logistics provider.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said, “The acquisition of Ingram Micro CLS is strategic for the CMA CGM Group. After completing its turnaround this year, our subsidiary CEVA Logistics will accelerate its development and join the world’s Top 4 in contract logistics”
“It’s position will be significantly strengthened in the U.S. and European markets, enhancing its ability to seize the opportunities offered by the boom of eCommerce. Committed to providing leading end-to-end supply chain solutions, the CMA CGM Group will continue its development, relying on two solid pillars, shipping and logistics, with a world leadership position in both sectors.”
Michiel Alting von Geusau, currently Executive Vice President, and President of Global Commerce & Life Cycle Services for Ingram Micro, will continue to lead the business within CEVA Logistics.
Alain Monié, CEO of Ingram Micro, said, “CMA CGM Group is committed to investing in the technology, capabilities, and talent to rapidly become one of the world’s largest players in the global ecommerce space. With a mission of enabling businesses to grow and communities to thrive, I am confident this is an excellent fit for our dynamic, innovative, and solutions oriented CLS team.”
The transaction is subject to regulatory approvals and expected to close in the first half of 2022.
Source: Seatrade Maritime News
