CEVA Logistics, the forwarding arm of the CMA CGM Group, is continuing its African safari with today’s announcement that it has closed the acquisition of Spedag Interfreight, an international freight forwarding company covering several countries in East Africa.
All customary closing conditions have been finalised, including regulatory approvals by relevant authorities.
CEVA purchased the logistics entity from the M+R Spedag Group, a family-owned transport and logistics company headquartered in Switzerland.
Spedag Interfreight focuses on several market verticals including energy and infrastructure, aid and relief, oil and gas, and commodities. Approximately 400 employees at 24 locations in Kenya, Uganda, Tanzania, Rwanda and South Sudan have joined CEVA as part of the transaction.
CEVA is now present in 44 countries in Africa.
The company’s ambition is to make the African market account for a significant share of its revenue by 2025, says CEO Mathieu Friedberg.
“CEVA Logistics and Spedag Interfreight will open new opportunities for the growth potential in East Africa. For example, Kenya acts as a key maritime gateway for East Africa. Through a recent expansion and modernisation project, the port of Mombasa is expected to move more than 1.7 million TEUs in 2023. The Kenya Ports Authority expects the port to handle 47m tonnes of cargo by 2032 - a 57% increase over current levels,” he said.
“With the addition of Spedag Interfreight in East Africa, we are continuing to execute key regional initiatives in our strategic growth plan. This acquisition is the perfect follow-on to our organic growth and M&A activity in Africa over the past two years, as well as the recent acquisitions of Ingram Micro CLS and Colis Privé.”
The CMA CGM Group announced in April that it had signed an agreement to purchase nearly 100% of the capital of GEFCO, the European specialist in automotive logistics and an international player in multimodal supply chain solutions. The European Commission authorised the Group to acquire the capital of GEFCO immediately, pending final approval.
