CEVA Logistics, part of the CMA CGM Group, has completed its acquisition of Borusan Tedarik Zinciri Çözümleri ve Teknoloji Şirketi, the company behind Turkish logistics provider Borusan Lojistik, expanding its presence in Turkey's domestic market.

The US$383 million transaction recently received all regulatory approvals ahead of the closing.

CEVA said privately held Borusan Holding sold 69.47% of Borusan Tedarik's shares, while the remaining 30.53% were held by publicly traded Borusan Yatırım.

The original purchase agreement was announced on April 26, 2025.

In addition to logistics activities from Borusan Lojistik, CEVA controls foreign subsidiaries, as well as the eTA and Bukoli subsidiaries in Turkey. The Borusan Port activities under the former Borusan Lojistik's brand remain with Borusan Holding.

"With the acquisition closed, CEVA will now begin the integration and rebranding process to further strengthen its position as a top 3PL in Turkey's domestic market," the announcement said.

In contract logistics, CEVA now manages approximately 1,190,000 square meters of warehouse space in the country.

In ground transport, the combination reflects nearly 1 million domestic FTL transports per year, while Borusan Lojistik's LTL activities will further strengthen CEVA's existing network, including connections to Europe.

CEVA will also have a leading position in finished vehicle logistics, as well as air and ocean transport, thanks to the Borusan Lojistik operations.

"The Turkish economy and its domestic logistics market are dynamic. This growth, combined with the country's strategic location along the India, Middle East, Europe Corridor, opens a wide array of opportunities for our new size and breadth of logistics solutions," said Mathieu Friedberg, CEO of CEVA Logistics.

"With our combined business, Turkey now represents CEVA's third-largest country by gross revenue," he added.