"MBK Partners to Acquire Japan's Third-Largest Aluminum Can Maker Artemira," Reports Japanese Media

Including Debt, Acquisition Valued at 1.2 Trillion Won

MBK Partners, a Korea-based private equity (PE) firm, is set to acquire Artemira, Japan's third-largest manufacturer of aluminum cans.

The Nikkei newspaper reported on May 11 that MBK Partners has agreed to acquire Artemira, which produces aluminum cans and industrial aluminum materials, for 130 billion yen (approximately 1.2 trillion won) including debt, and has received preliminary approval from Japanese authorities under the Foreign Exchange and Foreign Trade Act.

Artemira's annual sales amount to about 200 billion yen (approximately 1.9 trillion won). Since being acquired by U.S.-based Apollo Global Management in 2022, Artemira has been expanding into the Asian market and pursuing aluminum recycling projects.

The Nikkei added that MBK Partners plans to purchase shares from Apollo Global Management and is targeting an initial public offering (IPO) in a few years.

Recently, MBK Partners attempted to acquire Japanese machine tool manufacturer Makino Milling Machine, but accepted the Japanese government's recommendation to halt the acquisition process.

Makino's machine tools are classified as "critical industries" under the Foreign Exchange and Foreign Trade Act, as they include dual-use technologies (which can be used for both military and civilian purposes).

Since Artemira also handles critical industries such as lithium-ion batteries, Japanese authorities conducted a review prior to approving the acquisition by MBK Partners.