CMA CGM buys US-based Ingram Micro CLS for $3bn

LogisticsUpdateAfrica

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French carrier CMA CGM has signed a deal with US-based Ingram Micro to buy most of its commerce

CMA CGM buys US-based Ingram Micro CLS for $3bn

French carrier CMA CGM has signed a deal with US-based Ingram Micro to buy most of its commerce & lifestyle activities (CLS) for an enterprise value of $3 billion.

"The deal includes Shipwire, a cloud-based logistics technology platform, and the company’s technology forward logistics businesses in North America, Europe, Latin America and Asia-Pacific. The remaining portions of the existing CLS business will be retained by Ingram Micro," according to an official statement from CMA CGM.

The acquired CLS business specialises in ecommerce contract logistics and omni-channel fulfilment. The business is expected to end 2021 with a revenue of $1.7 billion and employs 11,500 worldwide across 59 warehouses.

“The acquisition of Ingram Micro CLS is strategic for the CMA CGM Group," said Rodolphe Saadé, Chairman and CEO of the CMA CGM Group. "After completing its turnaround this year, our subsidiary CEVA Logistics will accelerate its development and join the world's Top 4 in contract logistics. Its position will be significantly strengthened in the U.S. and European markets, enhancing its ability to seize the opportunities offered by the boom of ecommerce."