Henkel has closed its acquisition of Netherlands-based Stahl, a specialty coatings maker serving mobility, fashion, luxury and packaging markets, for EUR 2.1bn (USD 2.4bn) from Wendel, BASF and Clariant. The deal, agreed in February 2026, closed on 1 October 2026 after regulatory approvals and adds Stahl's leather finishing, performance and packaging coatings to Henkel's Adhesive Technologies unit.
Why this mattersA major specialty-coatings supplier to flexible packaging converters now sits inside a larger adhesives group, consolidating a key input for the supply chain.
- Deal value EUR 2.1bn (USD 2.4bn), agreed February 2026 and closed 1 October 2026
- Seller consortium comprised Wendel, BASF and Clariant
- Stahl employs around 1,800 staff and generated adjusted sales of EUR 725m in fiscal 2025
- Stahl's portfolio includes leather finishing, performance coatings and packaging coatings
- Henkel says three Adhesive Technologies deals this year (Stahl, ATP Adhesive Systems, Wetherby Laroc) add about EUR 1bn combined sales
- Stahl becomes part of Henkel's Adhesive Technologies business unit
Converter All4Labels has launched StarShine, a fully digital label line using on-demand metallization technology called EcoLeaf, replacing cold-foil metallic finishes with spot-applied metal flake and no offcut waste. Henkel Consumer Brands has already applied the technology to several home and personal care lines including its Le Chat detergent brand in France and hair care products. The labels are designed to wash off cleanly during PET, HDPE and polypropylene recycling under RecyClass protocols, and All4Labels cites up to an 80% emissions reduction versus traditional metallic foil.
Why this mattersA commercially deployed foil-free metallization process could cut waste and emissions across a widely used label finish, pressuring incumbent cold-foil suppliers and converters.
- All4Labels built its StarShine label line around EcoLeaf on-demand metallization technology
- Henkel Consumer Brands has applied StarShine to its Le Chat detergent brand sold in France and to hair care lines
- EcoLeaf spot-prints a chemistry-activated binder so metal flake sticks only where needed, eliminating foil substrate and offcut waste
- All4Labels cites up to 80% lower emissions than traditional metallic foil finishes
- StarShine labels meet RecyClass protocol for washing off cleanly during PET, HDPE and polypropylene bottle recycling
- Production runs across All4Labels sites in Italy, Germany, the UK, Romania and France
