Henkel is growing in the chemical sector by acquiring Stahl.

Henkel to Acquire Dutch Stahl

German chemical giant Henkel is nearing a significant agreement with Dutch coating company Stahl. According to a statement from Wendel, it was noted that partnerships controlling more than 30% of Stahl's management shares, including industry giants such as BASF and Clariant, will be up for sale. Henkel CEO Carsten Knobel emphasized that this acquisition would strengthen Henkel's adhesives technology division.

Stock Performance

Wendel shares experienced a 5.2% increase, achieving the fastest daily gain in the past two weeks on the Paris stock exchange. Additionally, BASF shares rose by 2.8% in Frankfurt, while Henkel shares gained 0.3%. These increases are attributed to expectations of consolidation across the sector.

Expectations of Consolidation in the Sector

Executives anticipate a wave of consolidation in the chemical industry due to weak demand, rising energy costs, and intense competition. Major players such as Akzo Nobel and BASF entering into multi-billion euro agreements also supports this expectation.

Information About Stahl

According to Bloomberg News, Wendel is considering selling Stahl in 2024. Stahl, which has approximately 1,700 employees, produces coating products for the automotive, fashion, and packaging industries. Stahl was purchased by Wendel and the Carlyle Group in 2006 for 520 million euros and has continued to grow through various acquisitions, including BASF's leather chemicals division and Clariant's similar business unit.

The agreement is reported to be subject to normal regulatory approvals and other conditions.