Manila, Philippines – ACX Holdings Corporation, the retail business of Ayala Corporation, has broadened its collaboration with CP Axtra through a new MoU signed on 13 November.
The agreement plans to identify additional business opportunities and consider joint investments in both the Philippine and Thai markets.
Additionally, the expanded relationship builds on the long-term relationship between the two groups and aims to accelerate developments in retail, wholesale, and particularly e-commerce.
Both companies intend to combine their expertise to introduce new digital commerce models, enhance online-to-offline retail offerings, and improve supply chain capabilities to support growing demand in the region.
“This partnership with CP Group allows us to put into action our strategy of offering Filipinos more choices by bringing the best of the world to the Philippines, while bringing the best of the Philippines to the world,” Mark Uy, head of corporate strategy and business development at Ayala Corporation, commented.
A key component of the agreement is the reaffirmation of their plan to reintroduce Makro in the Philippines through M&Co Corporation, a venture formed by ACX and Makro ROH Company Limited, a CP Axtra subsidiary.
The initiative is set to establish a large-format food retail, wholesale, and e-commerce operation designed to serve both commercial buyers and individual consumers.
“This collaboration reflects our shared ambition to pursue new growth by leveraging our respective strengths and resources. Together, we aim to unlock untapped opportunities across retail, wholesale, e-commerce, and mall development,” Tanit Chearavanont, group chief wholesale business officer of CP AXTRA Public Company Limited, stated.
Beyond Makro’s return, the two organisations will assess further collaboration prospects, including potential joint ventures with CP Axtra’s affiliated businesses. These efforts are expected to support wider digital commerce expansion, broaden product accessibility, and introduce more technology-driven retail solutions across the Philippines and Thailand.
The strengthened partnership signals ACX’s continued investment in the Philippine consumer market while opening pathways for future activities in Thailand.
