Henkel has completed its acquisition of Stahl following the completion of all closing conditions including regulatory approvals Stahl became part of Henkel on October 1, 2026.
The transaction values Stahl, excluding Muno at an enterprise value of €2.1 billion, according to Wendel, which finalized the sale of its stake in Stahl to Henkel. Wendel said the transaction generated net proceeds of around €1.14 billion after debt and transaction costs.
Stahl employs around 1,800 people globally and generated adjusted sales of €725 million in fiscal year 2025.
Henkel said the acquisition strengthens its Adhesive Technologies business by expanding into the specialty coatings category and broadening its technology portfolio across existing and new end markets.
“The successful closing of the Stahl acquisition marks another important milestone in executing our purposeful growth agenda and in strengthening Henkel’s Adhesive Technologies business,”
– Carsten Knobel, CEO, Henkel
Henkel said the acquisition, together with its previously completed acquisitions of ATP Adhesive Systems and Wetherby Laroc adds around €1 billion in combined sales to the Adhesive Technologies business this year.
Stahl CEO Maarten Heijbroek also addressed the completion of the acquisition in a LinkedIn post, saying the companies “bring together different strengths, shared values and a common ambition to drive innovation and create sustainable value for our customers.”
Mark Dorn, Executive Vice President and responsible for Henkel’s Adhesive Technologies business unit, said Stahl’s asset light, know how based and service driven model, along with its customization capabilities and sustainability focus, makes it a strategic fit for Henkel.
The company said combining Stahl’s specialty coatings capabilities with Henkel’s global adhesives expertise will create a broader solutions platform for customers.
ALSO READ: Henkel in Talks Over Potential Acquisition of Stahl
Henkel Agrees to Buy Stahl for €2.1 Billion at 3x FY 2025 Sales Multiple
