CEVA Logistics has announced it will acquire 100% of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi, a leading logistics solutions provider in Turkey, for US$440m.

With roots going back more than 50 years, Borusan Tedarik offers logistics solutions including contract logistics, finished vehicle logistics, full truckload and less than truckload ground transportation, as well as air and ocean freight and customs.

The acquisition will nearly double the size of CEVA’s warehousing and distribution operations in Turkey, adding approximately 570,000m2 to its existing 620,000m2 of warehouse space.

In addition, the combined ground transportation activities would execute nearly one million domestic transports per year, while Borusan Tedarik’s activities would also strengthen CEVA’s existing network connections with Europe.

Mathieu Friedberg, CEO, CEVA Logistics, said, “As a top five global logistics player, we have identified Turkey as one of our strategic geographies where we expect to grow significantly. Complementing our existing presence in Turkey with the reputable experts and operations of Borusan Tedarik would put us in a position to offer even greater value to our combined customers and, as a result, grow faster than the market organically. CEVA is becoming bigger, stronger and smarter, so that we can then grow faster.”

Author Credits- HAZEL KING, Parcel and postal technology INTERNATIONAL