Henkel has completed its acquisition of Netherlands-based Stahl Group, bringing the specialty coatings company fully into its Adhesive Technologies business from October 1, 2026.
The transaction follows the completion of all closing conditions, including the required regulatory approvals. Henkel had agreed to acquire Stahl for €2.1 billion in February 2026.
Stahl is a global provider of high-performance specialty coatings for flexible materials, serving customers across mobility, fashion and lifestyle, luxury and packaging markets. Its portfolio includes leather finishing solutions, performance coatings and packaging coatings.
Expanding Henkel’s Technology Portfolio
The acquisition gives Henkel access to a complementary technology portfolio beyond its traditional adhesives business. Henkel said the combination will broaden its technology offering across both existing and new end markets.
Stahl employs around 1,800 people globally and generated €725 million in adjusted sales in fiscal 2025, according to Henkel’s latest closing announcement.
The company operates with an asset-light, knowledge-based and service-driven model, with strong capabilities in customised specialty coatings. Henkel sees these capabilities as a strategic fit with its Adhesive Technologies business.
From Adhesives to Broader Material Solutions
The acquisition reflects Henkel’s broader strategy of expanding Adhesive Technologies into adjacent technology categories.
By combining Stahl’s specialty coatings capabilities with Henkel’s global adhesives expertise, the company aims to offer customers a more comprehensive range of solutions for materials and surfaces.
The combined portfolio has relevance across several industries, including mobility, packaging, fashion, luxury goods and other flexible-material applications.
Stahl’s coatings are used in applications where properties such as durability, appearance, protection and surface performance are important. Its portfolio also includes solutions focused on reducing environmental impact.
A Larger Adhesive Technologies Platform
Henkel said the Stahl acquisition is one of three transactions completed in its Adhesive Technologies business during 2026, alongside ATP Adhesive Systems and Wetherby Laroc. Together, the three transactions add around €1 billion in combined sales, according to Henkel.
The Stahl deal therefore forms part of a wider effort by Henkel to expand its technology base and strengthen its position in attractive industrial markets.
For Stahl, the transaction marks the beginning of a new phase under Henkel ownership after 20 years of majority ownership by Wendel.
With the acquisition now completed, the focus shifts from transaction approval to integration and the development of new opportunities across specialty coatings, adhesives, advanced materials and industrial applications.
The deal positions Henkel to compete across a broader technology landscape while giving Stahl access to Henkel’s global scale and established Adhesive Technologies platform.
