FILE

Ayala Corporation and CP AXTRA, a leading Asian retailer, have officially signed an agreement to bring Makro stores back to the Philippines. The partnership will establish a new company, M&Co Corporation, which will operate the new Makro stores across the country.

The collaboration brings together Ayala Corporation's extensive experience and deep roots in the Philippine market with CP AXTRA's expertise in running wholesale and retail businesses. Makro stores are known for offering a wide selection of food and non-food products at competitive prices, serving both individual shoppers and small businesses.

According to Mark Uy, Head of Corporate Strategy and Business Development at Ayala, this partnership is a significant move to enhance consumer choices and elevate retail standards in the Philippines. "We are excited to partner with CP AXTRA to bring Makro back," Uy said. "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."

Tanit Chearavanont, Group Chief Wholesale Business Officer at CP AXTRA, highlighted the Philippines as a "dynamic and fast-growing market." He noted that the partnership will combine CP AXTRA’s retail management skills with Ayala’s strong market presence, land development, and mall expertise. This move is part of CP AXTRA’s broader plan to expand its regional footprint and drive long-term growth.

This collaboration marks another step in Ayala Corporation’s continued growth in the consumer sector and its ability to attract leading global partners to invest in the country.