FedEx Supply Chain Sold

FedEx Corp. has completed the sale of FedEx Supply Chain, a subsidiary of FedEx Corp., to CMA CGM Group for an enterprise value of $1.4 billion.

The transaction represents another important step in the ongoing transformation of FedEx, advancing its strategy to simplify its portfolio, sharpen its focus, and concentrate resources on the areas where the company is best positioned to create long-term value.

“Today’s milestone demonstrates the continued progress we are making to execute our strategy with rigor and discipline,” said Raj Subramaniam, president and chief executive officer of FedEx.

“We are building a more focused FedEx, centered on the differentiated capabilities that have made our unparalleled network essential to global commerce. As we continue to strengthen our core transportation network and deepen our reach across high-value verticals, FedEx is simultaneously creating value for our customers and stockholders.”

FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, ecommerce, and business services. With annual revenue of $86 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network.

Subramaniam added: “I want to thank our FedEx Supply Chain team members for their many contributions to FedEx and our customers over the years. We wish them success as they begin their next chapter with CEVA Logistics, and we look forward to continuing our relationship with CMA CGM.”