CEVA Logistics to Acquire Turkish Provider Borusan Tedarik
CEVA Logistics, part of CMA CGM, has announced a binding agreement to acquire Turkish logistics firm Borusan Tedarik Zinciri Çözümleri ve Teknoloji for around $440 million, pending regulatory approval. Borusan Holding owns 69.5% of the company, with the rest publicly traded.
The deal includes Borusan’s operations in Germany, Bulgaria, Hong Kong, and China. The company offers a wide range of services, including contract logistics, vehicle logistics, FTL and LTL trucking, air and ocean freight, and customs. In 2024, Borusan Tedarik generated $567 million in revenue.
The acquisition will add approximately 4,000 employees and nearly double CEVA’s warehousing capacity in Turkey, boosting it by 570,000 square meters. It will also expand ground transport, handling close to 1 million shipments annually, and strengthen CEVA’s global footprint, especially in finished vehicle logistics, ocean freight, and airfreight. This strategic expansion enhances CEVA’s regional presence and operational scale, directly contributing to CMA CGM’s broader goal of strengthening its end-to-end logistics offerings and global network.
Since its CMA CGM acquisition in 2019, CEVA has pursued rapid growth through strategic acquisitions and joint ventures. The Borusan deal further accelerates this trajectory, positioning CEVA as a dominant player in key markets and sectors, ultimately supporting CMA CGM’s vision of becoming a comprehensive, integrated logistics leader worldwide.
