Henkel’s acquisition of Stahl combines complementary capabilities to accelerate growth

Stahl, a global leader in specialty coatings for flexible materials, along with its shareholders Wendel (68.5%), BASF (16.1%), and Clariant (14.6%), has announced an agreement to be acquired by Henkel for an enterprise value of €2.1 billion. This transaction marks the transfer of Stahl’s ownership after two decades of majority control by Wendel.

A strategic partnership founded on shared values, innovation, and ESG leadership

Henkel and Stahl share a closely aligned strategic vision rooted in customer focus, innovation, and sustainability. Both companies, headquartered in Europe, offer complementary specialty solutions to overlapping end markets—creating a strong basis for commercial synergies.

Henkel’s strong innovation capabilities are expected to further drive Stahl’s growth and reinforce its leadership in specialty coatings for flexible materials. The collaboration aims to deepen customer relationships, broaden technological expertise, and strengthen Stahl’s position as a trusted global partner.

Maarten Heijbroek, CEO of Stahl: “We are deeply grateful to Wendel for the long-term partnership and support that has shaped Stahl over the past two decades. Under Wendel’s ownership, Stahl has undergone a significant transformation into a focused, pure‑play speciality coatings company with a strong global footprint, strengthened technologies, and a resilient market position. This transformation means we are now well‑positioned for further growth.”

“As we move into our next chapter under the Henkel umbrella, we believe this acquisition will further strengthen our leadership position in speciality coatings for flexible materials. Henkel's strong innovation capabilities will further enhance value for our customers, and our shared values make this a natural and exciting next step for Stahl.”

Source: Stahl