Henkel to take sole control of coatings maker Stahl

The European Commission has published a prior notification of a proposed concentration under which Henkel AG & Co. KG of Germany will acquire sole control of the whole of Stahl Parent B.V. of the Netherlands. The notice, published in the Official Journal of the European Union (C series, C/2026/4641, of 31 August 2026), opens a 10-day window for interested third parties to comment on the deal.

The notification was received by the Commission on 18 August 2026 under Article 4 of Council Regulation (EC) No 139/2004 (the Merger Regulation), following a referral under Article 4(5) of that regulation. The transaction is classified as Case M.12372 – HENKEL / STAHL PARENT and is flagged as a text with EEA relevance.

The transaction

The concentration is accomplished by way of a purchase of shares, and would give Henkel sole control of Stahl within the meaning of Article 3(1)(b) of the Merger Regulation. Stahl is currently controlled by Wendel Participations SE of France.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation, although the final decision on that point is reserved.

The companies

The two undertakings operate in complementary segments of the industrial materials market:

• Henkel is active globally in the production of adhesives, sealants and functional coatings for industrial customers, as well as for consumers and craftsmen.
• Stahl is active globally in the production of industrial coatings for flexible materials, including leather finishing coatings, packaging coatings and performance coatings.
• Stahl serves customers mainly in the mobility (automotive and mass transportation, including aviation interior), packaging, fashion & lifestyle, and home furnishing markets.

How to comment

The Commission invites interested third parties to submit their observations on the proposed concentration. Observations must reach the Commission not later than 10 days following the date of publication, and must always specify the reference M.12372 – HENKEL / STAHL PARENT.

Observations may be sent by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post to the European Commission, Directorate-General for Competition, Merger Registry, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË.

The combination of Henkel’s adhesives and sealants business with Stahl’s industrial coatings for flexible materials would bring together two suppliers serving overlapping industrial customers, making the transaction one to watch for players in the coatings and adhesives markets across the European Economic Area.

Source: Official Journal of the European Union, C/2026/4641, 31.8.2026, C series (official reference: C/2026/4641, Case M.12372).