Spinneys, the leading premium fresh food supermarket chain in the United Arab Emirates, has entered into a strategic business venture with Ayala Corp. to open stores in the Philippines.
Spinneys is owned by the Al Seer Group, a consumer holdings company part of a UAE-based group with business interests in industries such as food, retail, hospitality, shipyards and construction with a presence in over 20 countries.
In a disclosure to the Philippine Stock Exchange, the Filipino conglomerate said that the partnership with Spinneys will see Ayala combine its deep local market knowledge and strong experience across the property, retail, and logistics sectors with Spinneys’ operational and brand expertise in premium fresh food retail.
“We are honored to be the first partner of Spinneys as it ventures outside the GCC. We hope this investment will catalyze trade and investment between the Philippines and the GCC. At Ayala, we take pride in partnering with some of the world’s leading companies and working alongside them to bring world-class products and services to the Philippines,” said Ayala Corporation President and CEO Cezar P. Consing.
“The Philippines offers significant long-term growth potential, with strong economic fundamentals, a growing affluent population, and increasing demand for high-quality offerings. Our partnership with Ayala combines their deep local knowledge with our operational expertise, providing a strong foundation to grow. As we enter this next phase, we’re delighted to be bringing our high-quality and fresh offering to a new region that is natural for us to serve as we are proud to employ and cater to many Filipinos in our current market,” said Sunil Kumar, Chief Executive Officer at Spinneys.
The Spinneys disclosure followed Ayala’s recent announcement of its partnership with Thailand’s CP AXTRA to open Makro stores in the Philippines.
The Filipino-owned conglomerate said that these new ventures will boost Ayala’s earlier collaborations with Kmart Australia Ltd. to bring home and lifestyle brand Anko.
Ayala is also responsible in bringing the Chinese-owned BYD, the world’s leading EV brand to the Philippines. Ayala said these ventures underscore its continued commitment to partnering with world-class companies to help build businesses that enable people to thrive across its portfolio.
