Henkel to Acquire Specialty Coatings Company Stahl
Henkel has signed an agreement to acquire Stahl, one of the world's leading companies in specialty coatings for flexible materials.
Henkel agrees to acquire Stahl, a world leader in specialty coatings for flexible materials.
Henkel has agreed to acquire Stahl Group, a Netherlands-based company majority-owned by French private equity firm Wendel SE, for EUR 2.1 billion. Stahl ranks among the world's leading companies in high-performance specialty coatings for flexible materials, serving leading global brands in the automotive, fashion & lifestyle, and packaging markets.
The company's product portfolio encompasses leather finishing coatings, performance coatings, and high-performance paper packaging and graphic coatings. Stahl employs approximately 1,700 employees and generated adjusted sales revenue of approximately EUR 725 million in fiscal year 2025 with balanced regional distribution.
Carsten Knobel, CEO of Henkel, commented on the matter:
"With the acquisition of Stahl, we will further strengthen our Adhesive Technologies business unit in line with our Purpose-Driven Growth strategy. This step will allow us to expand into specialty coatings, an attractive adjacent area, by providing product solutions across both existing and new end-use markets, and will accelerate growth in our Adhesive Technologies business unit. Together with our recently announced intention to acquire ATP Adhesive Systems, we have now agreed on two major M&A projects. These transactions will add approximately EUR 1 billion in combined sales volume, significantly advancing the growth potential of our global Adhesive Technologies business."
The transaction is subject to certain conditions including required consultation periods, regulatory approvals, and other customary closing conditions.
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