ApprovedAssessment completedWaiverCase number WA-45007
7 Apr 2026Henkel – Stahl
Henkel AG & Co. KGaA, through its subsidiary Henkel Global Supply Chain B.V. (Henkel), proposes to acquire all the shares in and sole control of Stahl Parent B.V. (together with subsidiaries, Stahl) from Stahl Group S.A., which is indirectly controlled by affiliates of Wendel S.E. (Wendel).
Wendel is headquartered in Paris, France, and is a private assets-focused investment firm listed at the Euronext Paris stock exchange.
Henkel is a German public company listed on the Frankfurt Stock Exchange, headquartered in Düsseldorf. It is active worldwide through its Adhesive Technologies business and Consumer Brands business.
Henkel’s Adhesive Technologies business is a producer of adhesives, sealants and functional coatings for industrial customers, consumers and craftsmen. Its Adhesive Technologies brands available in Australia include Loctite, Teroson, Bonderite, Clingtape, Technomelt, Aquence and Pritt. Henkel’s Consumer Brands business offers a diverse portfolio of consumer brands with a focus on Laundry & Home Care and Hair Care. Its consumer brands include Persil, Schwarzkopf, Perwoll, Syoss, Somat and Bref.
Stahl is a manufacturer of specialty coatings for flexible materials headquartered in the Netherlands. With subsidiaries in Europe, Asia, and the Americas, the company is active worldwide. Its portfolio comprises leather finishing coatings, performance coatings, and packaging coatings, serving customers mainly in mobility (automotive and aviation interiors), packaging, fashion & lifestyle, and home furnishing industries.
