CMA CGM is pursuing its expansion strategy, through external growth. The shipowner is in advanced negotiations to buy the company La Méridionale, which operates connections to Corsica and Morocco from Marseille, a source familiar with the matter said on Wednesday. The carrier Stef, the current owner of La Méridionale, has entered into discussions to sell the company which provides passenger and freight connections. The information-consultation procedure of the social and economic committee (CSE) must be launched soon at La Méridionale, which has 600 employees, said this source, confirming information from the newspaper The sailor (West France group).
The acquisition of these boats which moor at the foot of the CMA-CGM tower in Marseille would mark a return of the shipowner to the maritime transport of passengers, since the sale of the luxury cruise line Ponant in 2015.
At the end of 2022, La Méridionale obtained with Corsica Linea the renewal of its public service delegation on these routes, until 2029.
The parent company Stef had appointed in January at the head of La Méridionale a new general manager specializing in restructuring. Guillaume de Feydeau, has the mission of “build a new strategic plan, especially for the lines to Morocco which remained below forecasts”Stef had indicated at the end of January.
Asked by AFP, the group led by Rodolphe Saadé did not comment and Stef did not react immediately.
All-round diversification
The operation is in any case in line with the offensive led by the shipowner to diversify its income. Alongside its maritime activity, the group has the objective of becoming one of the world leaders in 360° logistics, until now mainly in B2B activities.
In April 2022, the Marseille group bought the French car transporter Gefco in April, taking advantage of the ousting of its Russian shareholder in the context of the war in Ukraine. He also got his hands on French Parcel Private at the beginning of the year, to develop last-mile logistics, a string that was missing from its bow. The shipowner also provided 25 million euros in fresh money to Brittany Ferries. Recently, the giant also entered the capital of the startup NetZero, which specializes in the capture and sequestration of atmospheric carbon. Finally, in 2022, it entered the capital of Eutelsat, the satellite operator.
In 2022, reaping record profits, CMA CGM took advantage of the overheating of maritime transport and the disorganization of global supply chains in the post-Covid world, which drove the price of its services upwards.