Germany’s Henkel has agreed to acquire specialty coatings manufacturer Stahl in a transaction valued at roughly $2.5 billion, marking a significant move to strengthen its industrial portfolio.
The deal, announced Wednesday, will see Henkel purchase Stahl from its majority owner, French investment firm Wendel, along with multiple minority shareholders. The transaction remains subject to customary closing conditions, including regulatory merger clearance.
Deal Structure and Financial Terms
In a separate statement, Wendel confirmed the sale values Stahl at an enterprise value of €2.1 billion — approximately $2.5 billion.
The French firm said the transaction is expected to generate about €1.2 billion in net proceeds after accounting for debt and transaction-related costs.
Wendel will divest its 68.5% stake in Stahl to Henkel. Minority shareholders, including chemical giants BASF and Clariant, will also sell their holdings as part of the agreement, effectively transferring full ownership to Henkel upon completion.
