In a move that underlines the growing importance of European defence collaboration, John Cockerill has finalised its acquisition of Arquus, a French military vehicle supplier.
This acquisition, initiated with the Volvo Group in January 2024, adds another dimension of Franco-Belgian military synergy at a critical juncture for global security. The move aligns with the recent Franco-Belgian Memorandum of Understanding, showcasing a commitment to collaborative defence efforts. Both nations have taken a 10% stake in John Cockerill Defense.
Financially, the deal was orchestrated with Crédit Agricole CIB as the Sole Financial Advisor and financed by Crédit Agricole CIB, BNP Paribas Fortis, and Société Générale Corporate and Investment Banking. This financial backing reveals the confidence in the vision driving this acquisition.
The VBMR-Griffon will be acquired from Nexter, Arquus, and Thales (in a joint programme) by the French MoD to replace forward armoured vehicles currently in service, as highlighted in GlobalData’s “The Global Military Land Vehicles Market 2023-2033” report.
Other ongoing French-Arquus armoured vehicle developments include Arquus securing a €120m ($130m) contract from the DGA to deliver 70 new-generation 8×8 all-terrain transport vehicles between 2024 and 2030. These vehicles, designed for logistical support and transport, will gradually replace existing models in the French Armed Forces.
Integrating Arquus’s military vehicles with Cockerill’s weapon systems aims to provide solutions for ground forces globally. By 2026, John Cockerill Defense targets an ambitious annual turnover of €1bn and plans to employ 2,000 professionals, enhancing its global footprint with bases in Belgium, France, India, Italy, and Saudi Arabia.
At Eurosatory 2024, Arquus unveiled two new military vehicles, MAV’Rx and DRAILER, marking its entry into the unmanned technology sector while targeting global markets, particularly in the Middle East and Europe.
As John Cockerill Defense integrates Arquus into its operations, the defence industry can expect combined offerings, such as vehicles equipped with light tank turrets, to enhance ground forces’ capabilities worldwide.
The acquisition of Arquus by John Cockerill is a development in European defence, illustrating a proactive approach to regional security and collaboration. As the newly integrated entity moves forward, it promises to deliver military solutions and reinforce the Franco-Belgian defence partnership.
