Ayala Corporation is teaming up with Thailand’s CP AXTRA, Asia’s leading operator of wholesale and retail chains Makro and Lotus’s, to bring Makro back to Philippine shores.
On Wednesday, September 24, the two companies announced the signing of definitive agreements to establish M&Co Corporation, a joint venture between Ayala’s wholly owned subsidiary, ACX Holdings Corporation, and CP AXTRA’s Makro ROH Company Limited.
The venture will operate Makro stores in the country, promising a modern wholesale and retail experience with a broad range of food and non-food products tailored for both households and small business owners.
“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 affordable prices through the Makro format. This partnership aligns with Ayala’s strategy of working with world-class companies to expand consumer choices, raise retail standards, and help Filipinos thrive,” said Mark Uy, Head of Corporate Strategy and Business Development at Ayala Corporation.
Tanit Chearavanont, Group Chief Wholesale Business Officer of CP AXTRA, highlighted the Philippines as “one of the most dynamic and fast-growing markets in Southeast Asia.” He said the partnership combines Ayala’s deep local market knowledge, customer reach, and real estate expertise with CP AXTRA’s track record in wholesale and retail management. “This venture supports our goal of expanding our regional footprint while ensuring long-term, sustainable growth and value creation,” he added.
The move further cements Ayala Corporation’s expansion into the consumer sector and underscores its ability to attract world-class global partners into the Philippine market. For consumers, it marks the long-awaited return of Makro—a name once synonymous with bulk buying and business-friendly retail—reimagined for a new generation of shoppers.