Prime Highlights:
- Henkel has agreed to acquire Stahl Group to expand its Adhesive Technologies business and strengthen its presence in automotive, fashion, lifestyle, and packaging markets.
- The acquisition aligns with Henkel’s strategy for purposeful growth, adding scale in existing and new markets and complementing its planned ATP Adhesive Systems deal.
Key Facts:
- Stahl Group, majority-owned by French private equity firm Wendel SE, employs around 1,700 people and reported adjusted sales of approximately €725 million in 2025.
- The transaction is subject to regulatory approvals, mandatory consultations, and other customary closing conditions before completion.
Background
Henkel has agreed to acquire Dutch-based Stahl Group for €2.1 billion, marking a major step in its expansion into high-performance specialty coatings. The deal will strengthen Henkel’s Adhesive Technologies business and widen its presence in fast-growing end markets such as automotive, fashion, lifestyle and packaging.
Stahl, which is majority-owned by French private equity firm Wendel SE, is a global player in specialty coatings for flexible materials. Its portfolio includes leather finishing coatings, performance coatings, and advanced paper packaging and graphics coatings. The company employs around 1,700 people worldwide and reported adjusted sales of about €725 million in the 2025 financial year, with a well-balanced regional footprint.
Henkel CEO Carsten Knobel said the acquisition aligns with the company’s strategy for purposeful growth. He said the move would help Henkel enter an attractive adjacent category while building scale in both existing and new markets. Knobel added that, along with Henkel’s planned acquisition of ATP Adhesive Systems, the company has committed to two major deals that together add close to €1 billion in sales and significantly boost growth potential in Adhesive Technologies.
Mark Dorn, Executive Vice President and head of Henkel’s Adhesive Technologies business, said Stahl is a strong strategic fit. He highlighted the company’s asset-light, know-how-driven, service-focused model, which enables a high level of customization. Dorn also noted that Stahl serves many customer segments already familiar to Henkel and brings valuable technology and research capabilities.
A large share of Stahl’s revenue comes from water-based, environmentally responsible solutions, which Henkel said supports its sustainability goals.
The transaction remains subject to mandatory consultation processes, regulatory approvals, and other customary closing conditions before completion.
