CEVA Logistics has signed a binding agreement to acquire 100% of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi, a move that will significantly strengthen CEVA’s position in the Turkish logistics market.
The deal, valued at USD 440 million subject to standard net cash and working capital adjustments, covers Borusan Tedarik and its subsidiaries in Germany, Bulgaria, Hong Kong, and China.
Completion remains subject to customary closing conditions and regulatory approvals.
Borusan Holding currently owns 69.47% of Borusan Tedarik’s shares, with the remaining 30.53 percent held by publicly traded Borusan Yatırım.
The acquisition will bring approximately 4,000 Borusan Tedarik employees into CEVA’s global network. The integration will nearly double CEVA’s warehousing and distribution footprint in Turkey to around 1.19 million square meters, while combined ground transport operations will handle close to one million domestic transports annually.
Borusan Tedarik’s strong automotive sector ties are expected to position CEVA among the Top 3 providers of finished vehicle logistics in Turkey, while the deal will also expand CEVA’s ocean capacity by 25% and rank its air freight capabilities among the Top 5 in the country.
The acquisition reflects CEVA’s ongoing growth strategy since joining the CMA CGM Group in 2019.
In recent years, CEVA has integrated several major logistics players, including Ingram Micro’s CLS division, GEFCO, and Bolloré Logistics, alongside smaller bolt-on acquisitions and joint ventures aimed at strengthening its global reach.
Mathieu Friedberg, CEO of CEVA Logistics, described Turkey as a priority market, saying that it will combine CEVA’s international reach with the expertise and operations of Borusan Tedarik that will create greater value for the customers and allow them to expand faster than the market.
Erkan Kafadar, CEO of Borusan Group, said the agreement underscores international trust in Turkey’s logistics sector highlighting that Borusan Tedarik transfer to CEVA Logistics not only represents a business deal but also highlights the confidence of international investors in our country.
