The CMA CGM Group, which owns the third largest ocean carrier in the world, announced July 1 an agreement to buy FedEx Supply Chain, a subsidiary of FedEx Corp, citing a $1.4 billion enterprise value — the combination of a company’s market capitalization with debt, after subtracting cash. The Group said the acquisition, expected to close in 2026, would nearly triple the size of the North American contract logistics operations of CEVA Logistics, a subsidiary of the CMA CGM Group. The announcement added that the companies also expect to enter into multi-year commercial agreements related to air and ocean freight. 

The announcement comes only weeks after the May 4 Amazon announcement of the launch of Amazon Supply Chain Services (ASCS), extending its internal logistics operations, initially limited to its own retail business, to companies of all types. Already by far the largest provider of logistics services in the U.S., Amazon's launch has put it in more direct competition with contract logistics providers such as C.H. Robinson and GXO Logistics, which ranked numbers two and three on the Armstrong & Associates’ Top 50 U.S. Third-Party Logistics Providers (3PLs) List – 2026. Prior to the CMA CGM announcement, CEVA ranked number 23, with FedEx Logistics ranking 39th. The two companies' combined 2025 logistics revenue would put them at number 17, between Uber Freight and Penske Logistics.

CMA CGM said the purchase of FedEx Supply Chain would accelerate its strategy to provide comprehensive end-to-end logistics services in North America. The combined entity will operate approximately 150 warehouses, expanding CEVA’s overall presence in North America to a combined workforce of 20,000 people located at more than 240 locations.  

“These deals also reinforce our long-term commitment to investing in the United States and supporting the resilience and efficiency of its supply chain,” said Rodolphe Saadé, chairman and chief executive officer of the CMA CGM Group.

In an identical announcement, FedEx said it will become a preferred ocean carrier for FedEx, offering ocean transport and carrier services under a non-exclusive agreement. The companies will also work together on select air cargo capacity solutions to enhance their respective global networks in the interest of higher aircraft utilization and flexible long-haul capacity, CMA CGM said.

Enterprise value is often used as a more comprehensive alternative to market capitalization when valuing a company, according to Investopedia.