CEVA Logistics has signed a binding agreement to acquire 100% of Borusan Tedarik Zinciri Çözümleri ve Teknoloji A.Ş., significantly strengthening its position in the Turkish logistics market and further accelerating its global growth strategy. The transaction values Borusan Tedarik at $440 million USD, pending customary closing conditions and regulatory approvals.
The deal, announced April 26, 2025, will see CEVA absorb Borusan Tedarik’s extensive domestic operations, which span contract logistics, finished vehicle logistics (FVL), full truckload (FTL) and less-than-truckload (LTL) ground transport, as well as international air, ocean, and customs services. In 2024, Borusan Tedarik generated $567 million USD in gross revenue, serving both global multinationals and leading domestic enterprises across multiple sectors.
Privately held Borusan Holding owns 69.47% of Borusan Tedarik, with the remaining 30.53% held by publicly listed Borusan Yatırım. The transaction includes Borusan Tedarik subsidiaries operating in Germany, Bulgaria, Hong Kong, and China.
The acquisition will add approximately 4,000 employees to CEVA’s workforce and nearly double its domestic warehousing and distribution footprint in Turkey. Borusan’s facilities contribute an additional 570,000 square meters of warehouse capacity, expanding CEVA’s Turkish warehousing network to approximately 1.19 million square meters. The combined operations will handle nearly one million domestic transport movements annually.
Strategically, the deal also strengthens CEVA’s position in multiple core product lines:
- Ground transport capacity will scale significantly across domestic and cross-border networks connecting Turkey with Europe.
- Borusan’s established relationships in the automotive sector will elevate CEVA into the Top 3 for finished vehicle logistics in Turkey.
- Ocean freight capacity will expand by 25%, while air freight volumes will position CEVA among the Top 5 air cargo operators in the Turkish market.
“For CEVA, Turkey is one of our high-potential growth markets,” said Mathieu Friedberg, CEO of CEVA Logistics. “By integrating Borusan Tedarik’s experienced team and diversified operations, we will expand our ability to offer fully integrated, multimodal logistics solutions across the country and beyond, allowing us to outpace organic market growth.”
The acquisition represents CEVA’s latest step in a series of global expansions under the ownership of CMA CGM Group, which acquired CEVA in 2019. Recent major integrations include Ingram Micro’s CLS division, GEFCO, Bolloré Logistics, and multiple bolt-on acquisitions targeting both geographic expansion and sector specialization.
Borusan Group CEO Erkan Kafadar emphasized the broader significance of the transaction: “This agreement not only reflects the global strength of Borusan Tedarik but also signals growing international confidence in Türkiye’s logistics sector. As Borusan continues to operate under a dynamic investment strategy, we remain committed to supporting Türkiye’s economic and social development.”
The deal further consolidates CEVA’s position as a Top 5 global logistics provider, while aligning with ongoing consolidation trends across the 3PL sector as major operators seek scale, sector depth, and expanded multimodal reach in key emerging markets like Turkey.
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