CEVA Logistics has signed a $440 million agreement to acquire 100% of Borusan Tedarik, enhancing its logistics footprint in Turkey and positioning itself strategically for future growth.

Target Information

CEVA Logistics has signed a binding share transfer agreement to acquire 100% of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Anonim Şirketi for $440 million (USD). This acquisition positions CEVA to enhance its global footprint significantly, particularly in Turkey, where Borusan Tedarik operates robustly. Founded over 50 years ago, Borusan Tedarik offers a wide array of logistics services, including contract logistics, finished vehicle logistics, and various freight solutions. In 2024, the company reported a gross revenue of $567 million (USD) and serves a diversified customer base, encompassing both domestic leaders and international clients.

The acquisition also includes Borusan Tedarik's subsidiaries located in Germany, Bulgaria, Hong Kong, and China, amplifying CEVA's reach in these strategic markets. Borusan Holding, a privately held entity, holds 69.47% of the shares, while the remaining 30.53% is owned by publicly traded Borusan Yatırım. The deal is currently pending customary closing conditions and regulatory approvals, which will ensure a smooth transition of ownership.

Industry Overview in Turkey

The Turkish logistics industry has witnessed considerable growth over the past decade, driven by the country's strategic geographical location bridging Europe and Asia. As a critical hub for transportation and distribution, Turkey has b