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CEVA Logistics, a subsidiary of the CMA CGM Group, has signed a binding agreement to acquire 100% of Borusan Tedarik Zinciri Çözümleri ve Teknoloji A.Ş. in a move set to bolster its presence in the Turkish logistics market.
The deal, valued at $440 million (USD), will transfer ownership from Borusan Holding, which controls 69.47% of Borusan Tedarik, and Borusan Yatırım, a publicly traded entity that holds the remaining 30.53%. Subject to standard closing conditions and regulatory approvals, the acquisition also includes Borusan Tedarik’s international subsidiaries in Germany, Bulgaria, Hong Kong, and China.
Founded over 50 years ago, Borusan Tedarik provides a wide spectrum of logistics services within Turkey, spanning contract logistics, finished vehicle logistics (FVL), full truckload (FTL) and less-than-truckload (LTL) transport, as well as ocean and air freight and customs brokerage. In 2024, the company reported gross revenues of $567 million and serves both global multinationals and key domestic players.
The acquisition will see approximately 4,000 Borusan Tedarik employees join CEVA Logistics, reinforcing the company’s operational strength in Turkey. According to the agreement, CEVA’s warehousing footprint in the country will nearly double—adding 570,000 square meters to its existing 620,000-square-meter capacity. On the ground transport side, the combined entity is expected to handle close to 1 million domestic transport movements annually.
Turkey has emerged as a strategic market for CEVA, both due to its geographic position and its growing importance in regional and global trade routes. Mathieu Friedberg, CEO of CEVA Logistics, stated, “As a Top 5 global logistics player, we have identified Turkey as one of our strategic geographies where we expect to grow significantly.” He emphasized the complementary strengths of both companies, particularly in air, ocean, ground, and contract logistics.
Borusan Tedarik’s strong foothold in the automotive logistics segment is also expected to enhance CEVA’s finished vehicle logistics capabilities, elevating its domestic market position into the Top 3. CEVA’s ocean freight capacity will rise by 25%, while its air freight services will now rank among the Top 5 in Turkey.
Erkan Kafadar, CEO of Borusan Group, remarked that the transaction is not only a significant business milestone but also reflects international confidence in Turkey’s logistics capabilities. “Founded 52 years ago to meet the internal logistics needs of our Group, the company’s evolution into a global player is a source of immense pride for us,” he said.
Since being acquired by CMA CGM Group in 2019, CEVA has been on a steady growth trajectory, completing multiple acquisitions, including Ingram Micro’s CLS division, GEFCO, and Bolloré Logistics. The addition of Borusan Tedarik fits within CEVA’s broader strategy of expanding its global logistics footprint through both large-scale and bolt-on acquisitions.
With a global network spanning 170 countries and a 2024 revenue of $18.3 billion, CEVA now operates over 1,500 facilities and employs roughly 110,000 people. The Borusan acquisition is expected to further integrate Turkey into CEVA’s global logistics web, enhancing service options for multinational and local clients alike.
