CEVA Logistics, a division of the CMA CGM Group, announced a strategic acquisition to strengthen its hold in the Turkish market through a definitive agreement to fully acquire Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi for $440 million. This transaction is subject to customary closing conditions and regulatory consent. Borusan Tedarik, primarily owned by Borusan Holding and Borusan Yatırım, stands out in providing integrated logistics services both locally in Turkey and internationally, catering to sectors such as contract logistics and freight transport.
This move aligns with CEVA’s intention to expand its global reach. By integrating Borusan’s capabilities, CEVA aims to enhance its operational scale significantly, especially in warehouse and distribution services. CEVA’s CEO, Mathieu Friedberg, highlighted that the acquisition would leverage Borusan’s industry knowledge and network to fuel organic growth. The anticipated acquisition would nearly double CEVA’s domestic operations, adding approximately 570,000 square meters in warehouse space and improving its reach with almost 1 million annual domestic transports. Furthermore, it would bolster CEVA’s ocean and air transport abilities.
For Borusan, the agreement underscores international confidence in Turkey’s logistics arena. Both company representatives view this acquisition as an evolution in their market contributions and a commitment to ongoing economic development in Turkey. The transaction marks a significant milestone for Borusan Tedarik, underscoring its evolution over the past 52 years into a recognized global logistics entity.
