# Henkel to acquire Stahl for €2.1 billion to expand specialty coatings

Henkel is acquiring Stahl for an enterprise value of €2.1 billion, buying the stakes held by Wendel, BASF and Clariant, to strengthen Stahl's specialty coatings for flexible materials. Completion is subject to closing conditions and regulatory approvals.

- Type: Acquisition
- Announced: 2026-02-04
- Value: $2.45B (2.10B EUR)
- Status: announced
- Products: specialty coatings for flexible materials
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [BASF](https://endata.com/companies/298.md) (partner)
- [Clariant](https://endata.com/companies/426.md) (partner)
- [Henkel](https://endata.com/companies/667.md) (acquirer)
- [Wendel](https://endata.com/companies/3659.md) (partner)
- [Stahl](https://endata.com/companies/10206.md) (target)

## Sources

- [packagingeurope.com](https://www.packagingeurope.com/henkel-acquires-stahl-for-21-billion-to-drive-flexible-coating-growth/), 2026-02-04: "Henkel is acquiring Stahl for an enterprise value of €2.1 billion – a move hoped to drive growth in specialty coatings for flexible materials."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.