Apollo has announced that Apollo-managed funds have completed the sale of their interest in ALTEMIRA Holdings Co., Ltd., a leading pan-Asian aluminum packaging company, to funds managed by MBK Partners. Financial terms of the transaction were not disclosed.
ALTEMIRA was established in April 2022 through the combination of the aluminum can and foil business formerly operated by Showa Denko — now named Resonac Holdings Corporation — and the aluminum can and rolled and extruded products business of Mitsubishi Materials Corporation. Apollo described the creation of ALTEMIRA as one of the first successful examples of sponsor-led industry consolidation in the Japanese industrials sector, demonstrating its ability to execute a complex carve-out, support the transition to a fully independent standalone enterprise, and drive broader transformation and consolidation through M&A.
The company has emerged as a differentiated platform operating one of the world’s only vertically integrated, closed-loop aluminum recycling ecosystems, spanning used beverage can collection, processing, slab casting, rolling into coils, and fabrication into beverage cans. The investment also highlights Apollo’s role as a trusted partner to Japan’s leading corporations, offering capital solutions in sectors that have historically been difficult for outside investors to access. The ALTEMIRA exit follows Apollo Funds’ successful sale of MAFTEC announced in June 2025, and comes as Apollo’s other Japanese private equity investments include Panasonic Automotive Systems and Nippon Sheet Glass, the latter of which is pending closing.
Apollo is a global alternative asset manager with approximately $1.03 trillion in assets under management as of March 31, 2026, operating across investment grade credit, private equity, and retirement services through its Athene subsidiary.
