Henkel has agreed to acquire Netherlands-based Stahl Group in a €2.1 billion deal, marking a significant step in expanding its specialty coatings and Adhesive Technologies business. Stahl, currently majority-owned by French private equity firm Wendel SE, is a global leader in high-performance specialty coatings for flexible materials. Through this acquisition, Henkel aims to diversify its portfolio, enter adjacent high-growth categories, and strengthen its innovation capabilities across key end markets.
Expanding into High-Performance Specialty Coatings
Stahl develops and supplies specialty coatings used in automotive, fashion and lifestyle, and packaging applications worldwide. Its portfolio includes leather finishing coatings, performance coatings, and high-performance coatings for paper packaging and graphics. By integrating these offerings, Henkel will broaden its solutions for both existing and new customers while deepening its presence in value-added, technology-driven segments.
Driving Growth in Adhesive Technologies
Henkel’s leadership highlighted the strategic importance of the acquisition for long-term growth. “With the acquisition of Stahl, we will further strengthen our Adhesive Technologies business unit in line with our strategic agenda for purposeful growth,” said Carsten Knobel, CEO of Henkel. “It enables us to expand into the attractive adjacent category of specialty coatings and broaden our product offerings across both core and new end markets,” Knobel added.
He added that, together with the recently announced plan to acquire ATP Adhesive Systems, Henkel has initiated two major M&A transactions that will collectively add nearly €1 billion in additional sales and significantly enhance the growth potential of its Adhesive Technologies business.
Technology Synergies and Innovation Gains
Beyond market expansion, Henkel expects strong operational and technological synergies. Stahl brings complementary technologies, advanced R&D capabilities, and specialized expertise that will help accelerate innovation and product development. “Stahl operates an asset-light, know-how-based and service-driven business model with a high degree of customization, making it a great strategic fit for our business,” said Mark Dorn, Executive Vice President, Adhesive Technologies at Henkel. “The complementary portfolio and strong technology base will allow us to deliver greater value and innovation to our customers.”
Supporting Sustainability Goals
Importantly, sustainability remains a key driver behind the deal. A majority of Stahl’s revenue comes from environmentally responsible, water-based solutions, which align closely with Henkel’s sustainability commitments. By adding these eco-friendly technologies, Henkel plans to further reduce its environmental footprint while offering customers more sustainable product alternatives.
Strengthening Henkel’s Competitive Edge
Overall, the acquisition reinforces Henkel’s strategy to build a high-growth, innovation-led adhesives and coatings business. By combining Stahl’s specialty expertise with Henkel’s global scale, the company aims to create a stronger, more resilient platform for future growth. As per the press release, once completed, the transaction is expected to enhance Henkel’s leadership in specialty materials while opening new opportunities across automotive, packaging, and consumer markets worldwide.
