The Ayala Group has signed a cooperation deal with Thailand’s CP Axtra to improve Makro malls in Thailand, combining Ayala’s property expertise with CP Axtra’s retail network.
The two firms also formed a joint venture, M&Co Corp., to open Makro stores across the Philippines. Ayala’s ACX Holdings will hold 49.9 percent, while CP Axtra owns the majority 50.1 percent. These outlets will offer affordable food and goods for shoppers and small businesses.
This marks Makro’s return to the country; it previously operated here from 1996 until 2004, when Ayala sold its stake. The brand’s locations were later converted into SM Hypermarkets.
Both sides said the partnership supports regional expansion and long-term growth, while boosting the local retail sector.
