Apollo Funds Divest Stake in Aluminum Packaging Leader Altmira
Apollo Global Management has sold its stake in Altmira Holdings, a leading Asian aluminum packaging manufacturer, to a fund managed by MBK Partners. Altmira was established in 2022 through the merger of aluminum businesses from Showa Denko (now Resonac) and Mitsubishi Materials. Apollo successfully supported the creation of a vertically integrated recycling ecosystem at the company, marking a successful case of sponsor-led corporate restructuring in Japan.
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- 📰 Published: June 3, 2026 at 17:00
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[Tokyo, New York, June 3, 2026] Apollo Global Management (NYSE: APO, "Apollo") announced today that funds managed by its affiliates ("Apollo Funds") have sold their equity stake in Altmira Holdings ("Altmira"), one of Asia's leading aluminum packaging manufacturers, to a fund managed by MBK Partners.
Altmira was established in April 2022 through the combination of the aluminum can and foil business of the former Showa Denko (now Resonac Holdings Corporation) and the aluminum can and rolled/extruded products business of Mitsubishi Materials Corporation. Altmira stands as a prime example of sponsor-led industry consolidation within the Japanese manufacturing sector. It also serves as a testament to the value-add of Apollo Funds in executing complex corporate carve-outs, transforming them into independent standalone entities, and driving industry transformation through M&A.
Through this restructuring, Altmira was reborn as a solid manufacturing foundation for aluminum packaging with both scale and differentiation. Specifically, the company built and operates a world-class, vertically integrated circular aluminum recycling ecosystem within its group, handling everything from the collection and processing of used beverage cans to slab casting, coil rolling, and beverage can manufacturing. The support provided to Altmira also demonstrates that Apollo Funds can act as a trusted partner to major Japanese companies, offering differentiated solutions to achieve their strategic goals in industries previously considered difficult for private equity involvement.
This transaction follows the sale of Muftech by Apollo Funds announced in June 2025. Other Apollo Funds private equity portfolio companies in Japan include Panasonic Automotive Systems and NSG Group (pending completion).
About Apollo
Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For over three decades, our investing expertise has served our clients, their businesses, and their employees, empowering our clients to meet their financial goals and providing our portfolio companies with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security. Our investing approach has an alignment of interests between our clients, our businesses, our employees, and the communities we impact. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management.
URL: www.apollo.com/japan
Altmira was established in April 2022 through the combination of the aluminum can and foil business of the former Showa Denko (now Resonac Holdings Corporation) and the aluminum can and rolled/extruded products business of Mitsubishi Materials Corporation. Altmira stands as a prime example of sponsor-led industry consolidation within the Japanese manufacturing sector. It also serves as a testament to the value-add of Apollo Funds in executing complex corporate carve-outs, transforming them into independent standalone entities, and driving industry transformation through M&A.
Through this restructuring, Altmira was reborn as a solid manufacturing foundation for aluminum packaging with both scale and differentiation. Specifically, the company built and operates a world-class, vertically integrated circular aluminum recycling ecosystem within its group, handling everything from the collection and processing of used beverage cans to slab casting, coil rolling, and beverage can manufacturing. The support provided to Altmira also demonstrates that Apollo Funds can act as a trusted partner to major Japanese companies, offering differentiated solutions to achieve their strategic goals in industries previously considered difficult for private equity involvement.
This transaction follows the sale of Muftech by Apollo Funds announced in June 2025. Other Apollo Funds private equity portfolio companies in Japan include Panasonic Automotive Systems and NSG Group (pending completion).
About Apollo
Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For over three decades, our investing expertise has served our clients, their businesses, and their employees, empowering our clients to meet their financial goals and providing our portfolio companies with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security. Our investing approach has an alignment of interests between our clients, our businesses, our employees, and the communities we impact. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management.
URL: www.apollo.com/japan
FAQ
Where was Artemira Holdings transferred to by Apollo Global Management?
It was transferred to a fund managed by MBK Partners.
When and how was Artemira Holdings established?
It was established in April 2022 through the integration of the aluminum can and foil business of the former Showa Denko (now Resonac Holdings Corporation) and the aluminum can, rolled, and extruded products business of Mitsubishi Materials Corporation.
What is the strength of the business model that Artemira Holdings has built?
It operates a vertically integrated circular aluminum recycling ecosystem within the group, handling everything from the recovery of used beverage cans to slab casting, coil rolling, and beverage can processing.
What are other private equity-backed companies in Japan by Apollo Fund?
Panasonic Automotive Systems and Japan Glass (planned completion) are examples.
Can you provide an overview of Apollo Global Management?
It is a global alternative asset management firm headquartered in New York, USA, with approximately 1.03 trillion dollars in assets under management as of the end of March 2026.