Ceva Logistics has completed the acquisition of all shares in Borusan Tedarik Zinciri Çözümleri ve Teknoloji Şirketi, the entity grouping Borusan Lojistik’s logistics activities in Turkey, for 383 million dollars (approximately 356 million euros). The company announced the deal on 5 November 2025, noting that all regulatory approvals had been obtained prior to completion. Borusan Holding sold 69.47% of the shares and Borusan Yatırım the remaining 30.53%. The initial agreement, announced on 26 April 2025, had set a price of 440 million dollars (around 409 million euros); the final amount reflects the customary adjustments for net cash and working capital.
Following the closing, Ceva is launching operational integration and rebranding, strengthening its position as a domestic 3PL provider in Turkey. In contract logistics, it integrates 1,190,000 square metres of warehouse space; in road transport, nearly one million domestic FTL shipments per year; and through Borusan’s LTL network, it adds new links to Europe. Ceva also consolidates a leading position in finished vehicle logistics and in air and sea freight. The transaction includes foreign subsidiaries as well as the Turkish digital platforms eTA and Bukoli. The port operations under the Borusan Lojistik brand, however, are excluded from the deal: Borusan Port remains with Borusan Holding.
The acquisition perimeter also covers the Turkish company’s subsidiaries in Germany, Bulgaria, Hong Kong and China, strengthening connections with Europe and Asia. According to Ceva’s statement, its ocean freight capacity in Turkey will increase by 25%, air freight will rank among the country’s top five, and its domestic warehousing and distribution scale will nearly double. Chief executive Mathieu Friedberg highlighted Turkey’s importance as Ceva’s third-largest market by gross revenue and its strategic position along the corridor linking India, the Middle East and Europe.
Borusan Lojistik was founded in 1973 as Boru Nakliyat to serve Borusan Group’s internal transport needs. Between the 1980s and 2000s it evolved into an integrated logistics operator open to the market, supported by a solid financial and organisational structure. In 2024, Borusan Tedarik reported gross revenue of 567 million dollars (around 528 million euros) and employed about 4,000 people. Across Turkey, the company developed an extensive distribution network with dozens of delivery and collection points. In 2012, it also launched the eTA telematics platform, providing fast procurement services, transparent pricing, quick quotations, rapid payments, continuous vehicle tracking and instant reporting.
