US logistics firm CEVA acquires Turkish Borusan’s supply chain subsidiary for $440M

CEVA Logistics, a U.S.-based global logistics company, has signed an agreement with Turkish conglomerate Borusan Holding to acquire all shares of its logistics subsidiary for $440 million.

According to a disclosure submitted by Borusan Yatirim to Türkiye’s Public Disclosure Platform (KAP) on Saturday, the transfer of Borusan Tedarik’s shares to CEVA will be finalized following approval by the Turkish Competition Authority.

Borusan Tedarik has provided logistics services for Borusan Holding, a group founded in 1944 and headquartered in Istanbul, operating globally across steel production, distribution, energy, and logistics sectors.

‘A strong sign of confidence in Türkiye’

Borusan Group CEO Erkan Kafadar emphasized the subsidiary’s deep-rooted history, describing the acquisition as a source of pride. “Seeing our company soon become a player on the global stage is a great honor for us,” he said, adding, “We view this process as more than a company transfer—it is a strong expression of confidence in Türkiye.”

CEVA Logistics CEO Mathieu Friedberg also underscored Türkiye’s importance as a strategic market targeted for growth.

“At CEVA, our goal is to become bigger, smarter, and stronger, enhancing our capacity for rapid expansion,” he said.