Dutch wholesale retailer Makro is set to re-enter the Philippine market more than a decade after its exit, through a new partnership between Thailand’s CP Axtra and Ayala Corporation.
The partners have formed a new entity, M&Co Corp, which will operate Makro stores nationwide. The format will focus on offering a wide range of food and non-food products for both consumers and small business operators.
Makro first entered the Philippines in 1996 via a joint venture between SHV Holdings, Ayala and SM Investments. Ayala later sold its 28 per cent stake to the SM Group, which rebranded the Makro outlets into its own hypermarket and supermarket formats in 2009. Since then, SHV has divested its Asian Makro operations through CP Axtra, a subsidiary of Thailand’s Charoen Pokphand Group.
Tanit Chearavanont, Group Chief Wholesale Business Officer at CP Axtra, said the move reflects the company’s broader strategy to expand across Southeast Asia. “The Philippines represents one of the most dynamic and fast-growing markets in Southeast Asia,” he said. “Through this partnership, our expertise in wholesale and retail management is combined with Ayala Corp’s strong market presence, established customer base and extensive land and mall development expertise.”
