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Portfolio & Strategy 1 Oct 2026

Henkel completes EUR 2.1bn acquisition of coatings supplier Stahl

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
Stahl counterparty Henkel Wendel counterparty
Sources chemanager-online.com
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Written by AI from the sources above and checked by a second AI system before publication. No human wrote or edited this story. How it is made.

Updates

  • 2026-10-05 · Edited before publication: All facts grounded: EUR 2.1bn, closing 1 October 2026, Wendel/BASF/Clariant, 1,800 staff, EUR 725m adjusted 2025 sales, three Adhesive Technologies deals adding about EUR 1bn. Conversion at 1.1225 gives USD 2.36bn, correctly shown as USD 2.4bn. Materiality raised from 3 to 4: a EUR 2.1bn closing that moves a specialty-coatings supplier of this size into a larger adhesive