CEVA Logistics, part of the CMA CGM Group, has strengthened its domestic presence in Turkey by acquiring 100% of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Şirketi, the legal entity behind Borusan Lojistik, for $383 million (USD). The transaction received all regulatory approvals and closed today.
Privately held Borusan Holding sold 69.47% of Borusan Tedarik shares, while Borusan Yatırım held the remaining 30.53%. Borusan Port operations remain with Borusan Holding.
CEVA now begins integration and rebranding to cement its position as a leading 3PL in Turkey. The combined company manages about 1.19 million square meters of warehouse space and nearly 1 million domestic FTL transports annually. Borusan Lojistik’s LTL activities will expand CEVA’s network and European connections. The acquisition also strengthens finished vehicle logistics, air, and ocean transport services.
Mathieu Friedberg, CEO of CEVA Logistics, said: “Turkey’s dynamic market and strategic location along the India-Middle East-Europe corridor open new growth opportunities. With this acquisition, Turkey becomes CEVA’s third-largest country by gross revenue.”
