FedEx’s $1.4B Supply Chain Sale Triples CEVA’s North American Scale

By Ashley Prince | July 2, 2026

CMA CGM has agreed to purchase FedEx Supply Chain for $1.4 billion, a deal set to nearly triple the North American footprint of CEVA Logistics, the shipping group’s logistics arm. 

The acquisition is expected to close later this year, pending regulatory approval. It also comes bundled with a commercial agreement that keeps FedEx and CMA CGM partnered for years to come. 

The deal folds FedEx Supply Chain’s roughly 10,000 employees and its physical network into CEVA. Combined, the two operations would run roughly 150 warehouses across more than 240 locations in North America, with a workforce of about 20,000. This will position CEVA to go head-to-head with the largest contract logistics providers in the region. 

Pre-acquisition, CEVA already runs 1,000 warehouses. The company handled 15 million shipments globally last year, according to CMA CGM.

FedEx has been narrowing its portfolio for a few years now, and contract logistics work sits outside FedEx’s core express and ground networks. The company’s DRIVE cost-reduction program has cut $4 billion in structural costs since 2023, with another $1 billion targeted for 2026. In June, FedEx spun off FedEx Freight as a standalone public company, distributing 80.1% of its shares to FedEx stockholders under the ticker FDXF. 

“Today’s announcement enables FedEx to further increase our focus on providing our unique expertise for high-value verticals, including healthcare, automotive, aerospace and data centers,” Raj Subramaniam, FedEx’s president and CEO said in the companies’ joint announcement. “By streamlining our portfolio, FedEx is better positioned to execute our long-term vision and continue to serve as the heartbeat of the industrial economy, delivering unmatched connectivity, reliability, and value to our customers globally.”

Between the FedEx Freight spin-off and this sale, FedEx has divested two major pieces of its business in a short timeframe, in addition to the ongoing DRIVE cost cuts. Each move points back to the same handful of priorities.

CMA CGM, on the other hand, has spent years pushing CEVA toward full end-to-end logistics capability, and this deal is a significant step in that direction for North America. 

Rodolphe Saadé, the group’s chairman and CEO, called the deal and the accompanying partnership “a major step in the development of CEVA Logistics and our logistics activities in North America,” adding that the moves “reinforce our long-term commitment to investing in the United States and supporting the resilience and efficiency of its supply chain.” 

CMA CGM has framed its U.S. presence as a 25-year commitment..

The deal isn’t just an asset sale. Once it’s executed, CMA CGM and FedEx expect to enter multi-year commercial agreements covering ocean and air freight. CMA CGM will become a preferred, non-exclusive ocean carrier for FedEx. The two companies also plan to collaborate on select air cargo capacity to improve aircraft utilization and long-haul flexibility on both networks. 

FedEx moves an enormous volume of freight every day. Winning preferred-carrier status on that scale of business keeps CMA CGM and FedEx interlocked, with the air and ocean arrangements rolling out in phases between now and 2028.

Morgan Stanley and Messier & Associés are advising CMA CGM, with Cleary Gottlieb as legal counsel. JPMorgan is advising FedEx, with Baker McKenzie as legal counsel. The acquisition still needs customary regulatory approvals before it closes, and both companies are pointing to a 2026 close without committing to an exact date.

For the contract logistics market, the acquisition changes the competitive picture. 

CEVA has made acquisitions before, but not at this scale. This acquisition puts CEVA on a more even footing with the largest third-party logistics providers at a moment when shippers are increasingly looking for partners who can handle warehousing, transportation, and cross-border freight under one roof. Combined with the preferred ocean carrier arrangement, CMA CGM will end up with more leverage across the entire supply chain.