According to Alphaliner, CMA CGM is set to acquire almost 100% of the capital of Gefco, an automotive logistics company, expanding the services offered by CEVA Logística.
“The acquisition of GEFCO represents a further step in our development strategy and strengthens our position as a global player in transport and logistics. 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, we are creating a French leader to serve our customers around the world,” said Rodolphe Saadé, President and CEO of the CMA CGM Group.
“The project led by CMA CGM will allow GEFCO to continue our activity in a stable environment, will support the transformation that we have initiated and will strengthen our development in the coming years. This link between two French companies will bring many opportunities for GEFCO in terms of innovation and sustainable growth, particularly at an international level, to the benefit of our clients”, said Luc Nadal, CEO of GEFCO.
The acquisition has been submitted to European competition authorities for approval, but in an unusual arrangement, the deal will be temporarily cleared by the European Commissions to free the company from possible sanctions related to the war in Ukraine. CMA CGM is buying 75% of the company from Russian Railways, Alphaliner reports.
Now, the remaining 25% was held by Stellantis, which includes Fiat Chrysler Automobiles and Peugeot. Gefco was originally the wholly owned logistics division of PSA Peugeot Citroën.
GEFCO has particular expertise in finished vehicle logistics and also has clients in the aerospace, pharmaceutical, energy and retail sectors, building up a network spanning 47 countries. It has more than 3,000 rail cars and 30 vehicle complexes in Europe, and also subcontracts a large fleet of vehicle transport trucks. The purchase is expected to boost CEVA’s end-to-end shipping and logistics services.