Deutz is pursuing the largest acquisition in its ~160-year history by buying military vehicle maker FFG Flensburger Fahrzeugbau GmbH for about €1.6 billion, with part of the payment in new Deutz shares.

The deal is designed to accelerate Deutz’s profitable growth and help reach 2030 targets of €4 billion in revenue and a 10% adjusted EBIT margin, with FFG positioned as a core element of Deutz’s defense segment.

Historically a maker of combustion engines for heavy equipment, Deutz aims to leverage this deal amid strong federal infrastructure spending; previous-year revenue was near €2 billion, with a forecast of €2.3–2.5 billion for the current year, and a long-term goal of €4 billion by 2030.

Closing hinges on shareholder approval at an Extraordinary General Meeting on 23 August 2026 and required regulatory clearances, with completion expected in late 2026 or early 2027.

Regulatory approvals and the EGM’s consent for the capital increase are prerequisites, targeting a closing by the end of 2026 or in Q1 2027.

Overall, the transaction is expected to close in late 2026 or early 2027, contingent on regulatory and shareholder clearance.

Post-merger, the combined workforce would total about 7,000 to 7,100 employees, adding roughly 1,100 FFG staff to Deutz’s existing workforce.

Closing is targeted for late 2026 or early 2027, with the expanded staff complement including around 1,100 FFG employees.

The combined workforce will number roughly 7,100 employees (about 6,000 at Deutz plus around 1,100 from FFG).

Deutz currently employs about 6,000 people and is known for combustion engines for heavy machinery.

FFG’s current owners would hold roughly 29.9% of Deutz post-deal, subject to the general meeting and antitrust approvals.

The deal remains contingent on regulatory clearances and the general meeting’s approval, indicating it is not yet finalized.