As part of the strategic development of the Henkel Group and the creation of even more agile processes and structures, the Management Board of Henkel AG & Co. KGaA (“Henkel”) following intensive review and detailed consultation with the relevant corporate bodies has decided to hive down the Henkel Consumer Brands and Henkel Adhesive Technologies business units so far operated directly by Henkel into separate subsidiaries. To this end, a hive-down agreement and, in each case, a business lease agreement regarding the temporary leaseback of the hived-down business units to Henkel were concluded between Henkel and its wholly-owned subsidiaries Henkel Consumer Brands GmbH and Henkel Adhesive Technologies GmbH, which were approved by a large majority at Henkel’s Annual General Meeting on 27 April 2026.
Flick Gocke Schaumburg provided Henkel with comprehensive tax advice on the transaction and ensured the tax-neutral treatment of the hive-downs by obtaining binding rulings.
Flick Gocke Schaumburg advisors to Henkel
Dr. Jens Hageböke (lead partner, partner, Düsseldorf); Prof. Ingo Stangl (partner, Munich); Dr. Alexander Hasbach (associated partner, Düsseldorf); Dr. Alexander Witfeld (partner, Düsseldorf); Julia Zehnpfennig (associated partner, Bonn); Dr. Martin Rindermann-Haugwitz (associate, Düsseldorf) (all direct taxes); Dr. Daniel Liebchen (partner, Hamburg) (transfer pricing); Dr. Manfred Reich (partner, Frankfurt); Dr. Michael Tischendorf (associated partner, Munich) (both inheritance and gift tax); Dr. Barbara Fleckenstein-Weiland (partner, Frankfurt) (VAT); Dr. Frieder Mörwald (partner, Bonn) (real estate transfer tax) <<<
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