5.8 C
Hamburg
Thursday, April 18, 2024
Home News CMA CGM takes over GEFCO proceeding with acquisition strategy

CMA CGM takes over GEFCO proceeding with acquisition strategy

The CMA CGM Group is acquiring nearly 100% of the capital of GEFCO, a European automotive logistics provider and international expert in the multimodal supply chain.

The acquisition has been submitted to competition authorities for approval, but the European Commission authorised CMA CGM to take over the stakes of GEFCO immediately, as part of a special procedure. Hence, now the final approval is pending, which will take place in the coming months, according to the French logistics group.

GEFCO is a French company, specialising in the automotive segment and in contract logistics, with particular expertise in finished vehicle logistics. It has been operating for over 70 years and it has customers in the aerospace, pharmaceuticals, energy and retail sectors.

Furthermore, GEFCO has built a network in 47 countries and employs around 11,500 staff around the world, with more than 2,500 of them in France.

Rodolphe Saadé, chairman and CEO of the CMA CGM Group, commented, "The acquisition of GEFCO represents a further step in our development strategy and strengthens our position as a global player in transport and logistics."

The acquisition of GEFCO and its integration within CMA CGM’s subsidiary CEVA Logistics is also anticipated to strengthen the latter's range of logistics services that provides to its customers, especially in France and the rest of Europe.

"With GEFCO, our subsidiary CEVA will become the world leader in automotive logistics, having recently enhanced its capabilities in e-commerce logistics with the acquisition of Ingram Micro CLS," added Saadé.

"The project led by CMA CGM will allow GEFCO to continue our activity in a stable environment, will support the transformation we have initiated and will strengthen our development in the years to come," stated Luc Nadal, GEFCO’s CEO.

"This link between two French companies will bring many opportunities for GEFCO in terms of innovation and sustainable growth, particularly internationally, for the benefit of our customers," added Nadal.

In parallel, CMA CGM has finalised the 100% acquisition of a home and relay parcel delivery company, Colis Privé, aiming to accelerate the development of CEVA Logistics in e-commerce and in key market segments, particularly in last-mile delivery in France.

The initial agreement on 31 January defined that CMA CGM would acquire 51% of Colis Privé, with a potential option to raise its interest at a later date.





Latest Posts

Singapore Shipping Association unveils tool to enhance cyber risk management

Singapore Shipping Association (SSA), a trade association advocating for the interests of over 500 Singapore-based companies involved in ship owning, operating, and maritime services,...

MSC applies new prices from Far East to Europe

Swiss/Italian container carrier MSC will implement the following new Freight All Kind (FAK) rates from Asia to Europe. Effective as from 1 May but not...

Port of Antwerp-Bruges handles over 3.2 million TEUs in first quarter

The Port of Antwerp-Bruges said that despite the ongoing complexities in geopolitics and macroeconomics, its volume growth, primarily driven by a resurgence in container...

Port of Rotterdam achieves 10% CO2 emission reduction in 2023

In 2023, there was a 10% reduction in CO2 emissions at the port of Rotterdam compared to 2022, amounting to a decrease of 2.2...

ONE and Portchain ink deal to drive sustainability

In the fall of 2023, Ocean Network Express (ONE) partnered with Portchain to focus efforts on enhancing collaboration with container terminals through the innovative...