Ayala Corp has teamed up with Thailand’s CP AXTRA to bring back Makro, the wholesale retail brand, to the Philippines nearly two decades after its exit, in a move aimed at tapping Southeast Asia’s fast-growing consumer market.
The two companies signed definitive agreements on Wednesday to form M&Co Corp, a joint venture between ACX Holdings, a wholly owned unit of Ayala, and Makro ROH Co Ltd, a subsidiary of CP AXTRA.
The new entity will operate Makro stores nationwide, offering a broad range of food and non-food products at what the companies described as affordable prices for both consumers and small businesses.
“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,” said Mark Uy, Ayala’s head of corporate strategy and business development.
He added that the partnership supports Ayala’s push to work with global companies to expand consumer choices, raise retail standards and “help Filipinos thrive.”
For CP AXTRA, which operates the Makro and Lotus’s chains across Asia, the deal highlights the Philippines’ appeal as one of the region’s fastest-growing consumer markets.
“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, CP AXTRA’s group chief wholesale business officer.
Ayala said the move underscores its ability to attract international partners to invest in the Philippines and strengthen the country’s retail landscape.
The return of Makro, once a familiar name to Filipino shoppers, is expected to intensify competition in a market dominated by SM Retail and Puregold.
Business News Asia
