Henkel completes acquisition of specialty coatings maker Stahl Group

Henkel has completed its acquisition of the Netherlands-based Stahl Group, a global provider of high-performance specialty coatings for flexible materials, with Stahl fully part of Henkel as of October 1, 2026 after all closing conditions, including regulatory approvals, were met. Stahl offers leather finishing, performance coatings and packaging coatings, employs around 1,800 people and generated adjusted sales of 725 million euros in fiscal 2025. Henkel says the deal is its third Adhesive Technologies transaction this year, adding around one billion euros in combined sales with ATP Adhesive Systems and Wetherby Laroc.

Key facts

Market context

Specialty coatings such as leather finishes, performance coatings and packaging coatings are formulated from polyurethane, acrylic and other polymer dispersions, along with pigments, waxes and additives, to give substrates durability, appearance, water and abrasion resistance, or barrier properties. Leather finishing serves automotive and furniture interiors and luxury goods, while packaging coatings protect food and consumer products. Demand therefore tracks vehicle production, fashion and luxury spending, and consumer packaging volumes. When a large adhesives and consumer-goods group adds a coatings specialist, it typically broadens its ability to offer bundled solutions to the same brand owners and converters. That can intensify competition for independent coating suppliers serving mobility, luxury and packaging customers, and may shift how raw-material purchasing and qualification work is organized across these value chains over time.

Source: official release on henkel.com. Summary and context written by Market Krystal.