Henkel to buy specialty coatings company Stahl in €2.1B deal

Feb. 04, 2026 7:02 AM By: Carl Surran, SA News Editor

Henkel said Wednesday it agreed to acquire Netherlands-based specialty coatings company Stahl Holdings for €2.1B (~$2.48B) including debt from private equity firm Wendel.

The German consumer goods company said the acquisition will help drive growth in its adhesive technologies business.

Minority shareholders BASF and Clariant, which together control more than 30% of Stahl, also will sell their stakes, Wendel (WNDLF) said.

Henkel’s deal for Stahl comes after the company recently said it would acquire ATP Adhesive Systems.

Executives have predicted a wave of consolidation in the chemicals industry, as companies struggle with weak demand, rising energy costs, tariffs and intense competition.

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