CMA CGM Acquires Gefco to Strengthens Logistics Presence
Publish Time: 2022-04-11 Origin: Site
Through the acquisition of GEFCO, CMA CGM's logistics subsidiary, CEVA Logistics, will become a global leader in automotive logistics.
CMA CGM Group announced on April 8 that it is acquiring nearly 100% of the shares of GEFCO (GEFCO), a leader in European automotive logistics. The acquisition will expand the business scope of CEVA Logistics (CEVA), the logistics subsidiary of CMA CGM.
At present, the acquisition has been submitted to the European competition authority for approval.
Rodolphe Saadé, Chairman and CEO of CMA CGM Group, said: "The acquisition of GEFCO is the latest step in our growth strategy and strengthens our market position. Through our partnership with GEFCO, CEVA Logistics will become a global leader in automotive logistics. "
It is understood that GEFCO is a French company that has been operating for more than 70 years. Not only is it a European leader in automotive logistics, it is also specialized in contract logistics and has a large number of customers in the aerospace, pharmaceutical, energy and retail sectors.
At present, GEFCO has established a business network in 47 countries around the world and has about 11,500 employees worldwide.
Luc Nadal, CEO of GEFCO, said: "With more than 70 years of professional experience in the field of logistics, GEFCO is honored to join the CMA CGM Group. Under the leadership of CMA CGM, we will strengthen our transformation. I am confident in the future to bring more opportunities for GEFCO in terms of innovation and sustainability, and to bring benefits to our customers.”
In this acquisition, CMA CGM intends to integrate GEFCO and CEVA Logistics to create a world-leading automotive logistics supplier, while strengthening the leadership of CEVA Logistics in the field of contract logistics.
More importantly, this acquisition is also part of CMA CGM's logistics strategy to help customers stabilize supply chains by expanding end-to-end logistics solutions.
Not long ago, CMA CGM has just announced the completion of the acquisition of most of Ingram Micro's commercial and lifecycle services business (CLS), as well as the Colis Privé Group, a leading French specialist in last-mile logistics. This series of acquisitions will accelerate CEVA's development in e-commerce and retail, fashion and other market segments....
According to the latest announced results, CMA CGM's operating income in 2021 is approximately US$55.98 billion, a year-on-year increase of 78%; earnings before interest, tax, depreciation and amortization (EBITDA) are US$23.1 billion, a year-on-year increase of 278.2%; net profit is US$17.894 billion, a year-on-year increase 919.6%.
Among them, the operating income of the logistics segment was US$10.9 billion, a year-on-year increase of 46.9%; EBITDA reached US$882 million, a year-on-year increase of 43.6%.
CMA CGM commented that the growth in the performance of the logistics sector was mainly driven by the sea and air freight business, as well as the recovery of the contract logistics business. Meanwhile, the performance of CEVA Logistics is improving.