Henkel has successfully completed the acquisition of the Netherlands-based Stahl Group, a global player in high-performance specialty coatings for flexible materials. Following the fulfillment of all closing conditions, including the required regulatory approvals, the company is now fully part of Henkel as of October 1st, 2026.

Henkel agreed to acquire Stahl in February 2026 for a purchase price of €2.1 billion. At the time of the agreement, Stahl was majority-owned by French private equity firm Wendel. The transaction expands Henkel’s Adhesive Technologies business into the specialty coatings segment.

Stahl serves leading brands across mobility, fashion & lifestyle, luxury and packaging markets around the world. The portfolio comprises leather finishing solutions, performance coatings and packaging coatings for unique performance attributes and superior consumer experience.

The portfolio also includes high-performance paper packaging and graphics coatings, extending Stahl’s activities into applications relevant to the packaging industry.

According to Henkel, Stahl’s portfolio is highly complementary to its Adhesive Technologies business, with many of the customer segments already served by Henkel. Henkel also noted that the majority of Stahl’s revenues come from environmentally responsible water-based solutions, which it expects to support its sustainability commitments.

Stahl employs around 1,800 employees globally and generated adjusted sales of 725 million euros in fiscal year 2025.

Henkel CEO Carsten Knobel said: “The successful closing of the Stahl acquisition marks another important milestone in executing our purposeful growth agenda and in strengthening Henkel’s Adhesive Technologies business.

“By entering into the highly attractive adjacent category of specialty coatings, we are unlocking new growth opportunities and broadening our technology portfolio with product offerings in core as well as in new end markets.

“Together with ATP Adhesive Systems and Wetherby Laroc, we have successfully closed three transactions in our Adhesive Technologies business unit this year – adding around one billion euros in combined sales and laying the foundation to further drive profitable growth.”

Mark Dorn, Executive Vice President and responsible for Henkel’s Adhesive Technologies business unit, said:  “Stahl’s asset-light, know-how-based and service-driven business model, combined with its strong customization capabilities and sustainability focus, makes it a highly attractive strategic fit for our business.

“By combining Stahl's leading specialty coatings capabilities with Henkel's global adhesives expertise, we are creating a more comprehensive solutions platform that will help customers innovate faster and advance their sustainability ambitions. We are very excited to welcome our new colleagues to our Adhesive Technologies team to jointly drive further business opportunities.”