London, UK: In a surprise move, Ceva Logistics, owned by French shipping firm CMA CGM, is to buy Wincanton for £566.9m. Wincanton’s work for grocers was one of the reasons behind Ceva Logistics’ takeover decision.
Ceva Logistics said that it believed the acquisition would “build on Wincanton’s proven expertise in partnering with prominent grocers and retailers in the UK to diversify Ceva’s customer base”.
Mathieu Friedberg, chief executive of Ceva Logistics, said: “In addition to the innovative logistics solutions that we could develop and offer together, we would be optimally positioned to answer even more supply chain challenges for our combined set of UK customers.”
The deal would also “deliver cost synergies, sharing best practices”, Ceva said.
Wincanton chairman Martin Read said: “This offer for Wincanton from CMA CGM is testament to the strength of the business we have built, our strategy, our strong customer relationships and our excellent people.
“CMA CGM is a highly-experienced operator in the industry, and as Wincanton becomes part of this larger business, it will be able to capitalise on the significant growth opportunities ahead.
“In unanimously recommending this offer to shareholders, the directors believe it is in the interests of all the company’s stakeholders.”
The move continues the trend of consolidation within the logistics industry. Wincanton operates around 8,500 vehicles from over 170 sites. Ceva Logistics’ owner, the CMA CGM Group, handles logistics by sea, road, and air, serving more than 420 ports around the world across five continents, with a fleet of around 620 vessels.
