Ardagh Holdings explores potential sale of Ardagh Metal Packaging, standalone operations may add $30m in annual costs

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Ardagh Holdings, the controlling shareholder of Ardagh Metal Packaging (AMP), is preparing for a possible sale of the beverage can maker, according to a filing with the US Securities and Exchange Commission (SEC).

Ardagh Holdings has instructed advisers to explore a potential transaction that could involve selling some or all of its indirectly held stake in AMP to a third-party buyer. Another option would be for Ardagh Holdings to acquire the AMP shares it does not currently own and then sell the entire company to a third party.

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A sale could also increase AMP's operating costs. The company currently receives administrative, corporate and other shared services from Ardagh Group, including some group-wide purchasing arrangements. If those services are terminated after a sale, AMP estimates that operating independently would add around USD 30 million in annual costs.

Still, no firm timeline has been set for the process, and Ardagh Holdings said there is no guarantee that a sale will take place. Any decision to proceed, including the terms of a potential deal and the choice of buyer, would require approval from its board.

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AMP reported USD 5.5 billion in revenue in 2025. The Luxembourg-based company operates 23 plants across nine countries and employs around 6,500 people.

Ardagh Holdings has appointed Evercore International Partners as its financial adviser and Kirkland & Ellis International as lead legal adviser. The company said it would not comment further unless its board approves a specific course of action or decides that additional disclosure is appropriate.