CEVA LOGISTICS Expands in Turkey via Borusan Tadarik Acquisition
- CEVA Logistics has entered into a binding agreement to acquire 100% of Borusan Supply chain Solutions and Technology Joint Stock Company for $440 million, subject to customary adjustments.
- Borusan Holding currently holds 69.47% of Borusan Tedarik's shares, with Borusan Investment, a publicly traded company, owning the remaining 30.53%.
- With over 50 years of experience, Borusan Tedarik provides extensive logistics solutions within Türkiye, including contract logistics, finished vehicle logistics (FVL), full truckload (FTL) and less-than-truckload (LTL) transport,...
CEVA Logistics to Acquire Borusan Supply Chain Solutions, Expanding Turkish Presence
Table of Contents
- CEVA Logistics to Acquire Borusan Supply Chain Solutions, Expanding Turkish Presence
- CEVA Logistics Acquiring Borusan: Your Top Questions Answered
- What’s teh Big News? CEVA Logistics is Expanding in Türkiye!
- Breaking Down the Deal: Key Details
- What Are the Benefits of This Acquisition for CEVA Logistics?
- Zooming in on Borusan Tedarik: What Does It Bring to the Table?
- A Look at the Bigger Picture: CEVA’s Growth Strategy
- Key Takeaways: A Quick Comparison of Key Metrics
CEVA Logistics has entered into a binding agreement to acquire 100% of Borusan Supply chain Solutions and Technology Joint Stock Company for $440 million, subject to customary adjustments. The acquisition is aimed at bolstering CEVA’s presence in Türkiye and expanding its global reach.
Borusan Holding currently holds 69.47% of Borusan Tedarik’s shares, with Borusan Investment, a publicly traded company, owning the remaining 30.53%. The agreement encompasses Borusan Tedarik’s subsidiaries in Germany,Bulgaria,Hong Kong,and China. The deal remains subject to standard closing conditions and regulatory approvals.
With over 50 years of experience, Borusan Tedarik provides extensive logistics solutions within Türkiye, including contract logistics, finished vehicle logistics (FVL), full truckload (FTL) and less-than-truckload (LTL) transport, and also air and sea freight, and customs brokerage. In 2024, Borusan Tedarik generated gross revenues of $567 million, serving a diverse portfolio of global and national clients.
Strategic Expansion
The acquisition will bring approximately 4,000 employees to CEVA Logistics. The integration of Borusan Tedarik’s operations is expected to strengthen CEVA’s existing position in Türkiye across its core service offerings: air, sea, and land transport, contract logistics, and FVL.
The deal will effectively double CEVA’s warehousing and distribution footprint in the country, adding approximately 570,000 square meters to its existing 620,000 square meters of storage space. the combined land transport operations are projected to handle around one million domestic transports annually. Borusan’s established relationships within the automotive sector are expected to elevate CEVA’s FVL operations in Türkiye to a top-three market position. Moreover, CEVA’s maritime capacity is anticipated to increase by 25%, while its air freight capacity will rank among the top five in Türkiye.
“It will allow us to offer even greater value to our joint clients and, as an inevitable result, grow organically at a rate higher than the market,”
Mathieu Friedberg, executive director of CEVA Logistics
Mathieu Friedberg, executive director of CEVA Logistics, stated, “As one of the top 5 global logistics players, we have identified Türkiye as a key strategic geography where we expect significant growth. Combining our existing presence in Türkiye with the expertise and operations of Borusan Tedarik will enable us to accelerate that growth.”
“We consider this transaction not only as a commercial agreement, but also as a solid sample of international confidence in Türkiye.”
Erkan Kafadar, CEO of the Borusan Group
Erkan Kafadar, CEO of the Borusan Group, commented, “We have initiated the transfer process of Borusan tedarik, one of our investments that provides significant value to our country and sector, to CEVA Logistics, a global provider of integrated logistics services. Founded 52 years ago to meet the internal logistics needs of our group,the evolution of the company until it becomes a global actor is a reason for immense pride for us.”
Growth Trajectory
CEVA Logistics has been on a growth trajectory since its acquisition by the CMA CGM Group in 2019. As the CMA CGM Group’s logistics arm, CEVA has integrated several significant players in the sector, including the Ingram Micro CLS Division, Gefco, and, more recently, Bolloré Logistics.
CEVA has also pursued numerous complementary domestic acquisitions and established joint ventures to accelerate growth in key geographic regions and market sectors.
CEVA Logistics Acquiring Borusan: Your Top Questions Answered
What’s teh Big News? CEVA Logistics is Expanding in Türkiye!
Q: What’s happening in the logistics world?
CEVA Logistics is set to acquire 100% of Borusan Supply Chain Solutions and Technology Joint Stock Company.This binding agreement, valued at $440 million (subject to adjustments), aims to significantly bolster CEVA’s presence in Türkiye and expand its global reach.
Q: Who is borusan Tedarik?
Borusan Tedarik, with over 50 years in the business, is a leading logistics provider in Türkiye. They offer a full suite of services, including:
Contract Logistics
Finished Vehicle Logistics (FVL)
Full Truckload (FTL) and Less-than-Truckload (LTL) Transport
Air and Sea Freight
Customs Brokerage
Q: Why is this acquisition critically importent?
This acquisition is strategic for both CEVA and the Turkish market. It signals confidence in the Turkish economy and allows CEVA to significantly increase its service offerings and capacity within the country.
Breaking Down the Deal: Key Details
Q: How much is the deal worth?
The acquisition is valued at $440 million.
Q: Who are the parties involved in the transaction?
Buyer: CEVA Logistics
Seller: Borusan Holding and Borusan Investment. Borusan Holding currently holds 69.47% of Borusan Tedarik’s shares, with Borusan Investment, a publicly traded company, owning the remaining 30.53%.
Q: Where does Borusan Tedarik operate?
The acquisition includes Borusan Tedarik’s subsidiaries in:
Germany
Bulgaria
Hong Kong
China
Q: What are the next steps?
The deal is subject to standard closing conditions and regulatory approvals.
What Are the Benefits of This Acquisition for CEVA Logistics?
Q: What does CEVA hope to achieve with this acquisition in Türkiye?
CEVA seeks to:
strengthen its existing presence in Türkiye.
expand its service offerings (air, sea, and land transport, contract logistics, and FVL).
Accelerate growth in a key strategic geography.
Q: How will this acquisition affect CEVA’s operations in Türkiye?
The integration of Borusan Tedarik’s operations is expected to have a major impact:
Increased Footprint: Effectively doubles CEVA’s warehousing and distribution space in the country.
Expanded Capacity: Combined land transport operations are projected to handle around one million domestic transports annually.
Market Leadership: Borusan’s connections in the auto sector are expected to allow CEVA’s FVL operations to gain a top-three market position.
Enhanced Capabilities: Increased maritime capacity (by 25%) and air freight capacity (ranking among the top five in Türkiye).
Q: What specific benefits does CEVA envision?
Mathieu Friedberg, executive director of CEVA Logistics, stated that this acquisition will “allow us to offer even greater value to our joint clients and, as an unavoidable result, grow organically at a rate higher than the market.”
Zooming in on Borusan Tedarik: What Does It Bring to the Table?
Q: What kind of revenue did Borusan Tedarik generate in 2024?
In 2024, Borusan Tedarik generated gross revenues of $567 million.
Q: Who will this acquisition bring to CEVA Logistics?
The acquisition will bring approximately 4,000 employees to CEVA Logistics.
A Look at the Bigger Picture: CEVA’s Growth Strategy
Q: What is CEVA Logistics’ growth trajectory?
CEVA Logistics has been on a growth trajectory as its acquisition by the CMA CGM Group in 2019.
Q: What other acquisitions has CEVA made?
As the CMA CGM Group’s logistics arm, CEVA has integrated several significant players in the sector, these include:
Ingram Micro CLS Division
Gefco
* bolloré Logistics
Q: What else is important to know about CEVA’s growth strategy?
CEVA has also pursued numerous complementary domestic acquisitions and established joint ventures to accelerate growth in key regions and market sectors.
Key Takeaways: A Quick Comparison of Key Metrics
| Metric | Value |
|---|---|
| Acquisition Price (USD) | $440 million |
| Borusan Tedarik 2024 Gross Revenue (USD) | $567 million |
| Employees Added | Approximately 4,000 |
| Warehousing & Distribution Footprint Increase | Doubles current footprint |
| Anticipated Maritime Capacity Increase | 25% |