Henkel Acquires Stahl for €2.1 Billion

4 February 2026

Key highlights

Henkel acquires Stahl for €2.1 billion.
Stahl's shareholders include Wendel (68.5%), BASF (16.1%), and Clariant (14.6%).
The transaction marks the end of 20 years of Wendel's majority ownership.
Completion is subject to customary closing conditions and regulatory approvals.

Acquisition Details

Henkel has agreed to acquire Stahl, a leader in speciality coatings for flexible materials, for an enterprise value of €2.1 billion. The deal involves shareholders Wendel, BASF, and Clariant, marking the end of Wendel's 20-year majority ownership.

Strategic Alignment

Henkel and Stahl share a strategic vision focused on customer intimacy, innovation, and ESG leadership. Both companies are headquartered in Europe and offer complementary solutions to shared markets, paving the way for commercial synergies.

Growth and Innovation

Henkel's innovation capabilities are expected to accelerate Stahl's growth in speciality coatings. The acquisition aims to enhance customer relationships, expand technology offerings, and strengthen Stahl's global market position.

Transition and Approvals

During the transition, Stahl will maintain its current operations and commitments. The transaction is subject to customary closing conditions and regulatory approvals, with further details to be communicated as the process advances.

Source: Stahl