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FedEx Supply Chain adds 34 million square feet of warehouse space to CEVA’ s North American footprint. Miguel Perfectti / Shutterstock. com logistics operations. The transaction, unveiled in July, adds 34 million square feet of warehouse space and nearly 10,000 employees to CEVA’ s North American operations. The combined business will operate about 150 acquired warehouses in North America, taking CEVA’ s regional footprint to more than 240 locations and its workforce to approximately 20,000 people.
The FedEx Supply Chain acquisition was followed by C. H. Robinson’ s takeover of smaller rival RXO for $ 5.8 billion in stock and cash.
Asked what made the North American market so attractive from a logistics perspective, Moebel said,“ North America is a mature, predictable market and a market that is consistent regarding growth patterns because the US is a resilient economy that provides predictability.”
Moebel expects continued consolidation in the fragmented logistics industry as customers look for scale and global supply chains shift and become more complex.
“ Customers are looking for supply chain partners able to shift quickly and adapt to geopolitical environments,” he said.“ For instance, China plus one, the various customs barriers or tariffs that are going on in Europe and North America. I foresee more consolidation on a global basis to serve those geopolitical shifts, which you can only do if you have scale and a geographical presence.”
With its global presence secured, Moebel said CEVA is now focused on smaller mergers and acquisitions with targeted bolt-on takeovers to fill gaps geographically or to add capabilities.
“ That’ s our play going forward, rather than large-scale acquisitions, which are harder to come by because the top global players have consolidated as well,” he said.“ So, we are now looking at smaller types of M & A plays.”
email: greg. knowler @ spglobal. com
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