160 years of engine production, now in the biggest acquisition in the company’s history: Deutz takes over FFG and finally turns the stake into a gun bet.
Deutz is taking the next big step in its defense business. The Cologne engine manufacturer has entered into an agreement to acquire FFG Flensburger Fahrzeugbau GmbH. The purchase price is approximately 1.6 billion euros. Deutz is pursuing the biggest acquisition in the company’s 160-year history and is moving closer to producing military equipment. The stock responded in early trade on Tradegate with a rise of more than 7 percent to €9.40 and was at times MDAX’s most active stock.
FFG manufactures, maintains and modernizes armored personnel carriers, armored personnel carriers and other military ground and special equipment. Customers include, among others, the Bundeswehr. In 2025, the company had sales of 760 million euros and more than 1,100 employees. Together with the Finnish arms company Patria, FFG is also participating in an order to supply Germany with up to 876 six-wheeled armored vehicles.
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