Ayala Corporation and CP AXTRA, Asia’s leading operator of wholesale and retail businesses Makro and Lotus’s, executed definitive agreements on Wednesday, September 24, to bring Makro, a wholesale store model, back to the Philippines.
In a statement accompanying its disclosure to the Philippine Stock Exchange, Ayala said the new entity will be called M&Co Corporation. It is a partnership between ACX Holdings Corporation, a wholly-owned subsidiary of Ayala Corporation, and Makro ROH Company Limited, a subsidiary of CP AXTRA.
There was no mention as to the equity structure of the stockholders and value of the transaction. Ayala said M&Co will focus on operating Makro stores in the Philippines, offering a modern shopping experience with a wide range of food and non-food products at accessible prices for both consumers and small business operators.
“We are excited to partner with CP AXTRA to bring Makro back to the Philippines. Together, we seek to build on CP AXTRA’s proven success in delivering quality products at more affordable prices through the Makro format. This partnership is in line with Ayala’s strategy of working with world-class companies to expand consumer choices, raise retail standards, and help Filipinos thrive,” said Mark Uy, Head of Corporate Strategy and Business Development at Ayala Corporation.
“The Philippines represents one of the most dynamic and fast-growing markets in Southeast Asia. Through this partnership, CP AXTRA’s expertise in wholesale and retail management is combined with Ayala Corporation, a trusted local partner with strong market presence, established customer base, and extensive land and mall development expertise. This new partnership aligns with CP AXTRA’s strategy to expand our regional footprint, while positioning the company for sustainable long-term growth and value creation,” said Tanit Chearavanont, Group Chief Wholesale Business Officer, CP AXTRA Public Company Limited.
