Deepening the ties between both companies.
Last Thursday, November 13, ACX Holdings Corporation, the retail arm of the Ayala Corporation, and Thailand-based wholsale and retail company CP AXTRA, which owns Makro and Lotus’s, signed a new memorandum of understanding (MoU).
An expansion of their earlier partnership for Makro’s return to the Philippines through the new entity M&Co Corporation, the MoU will allow both companies to explore the development of new businesses and co-investments in the Philippines and Thailand.
Under these agreements, CP AXTRA and ACX Holdings Corporation will explore a broader range of collaborative opportunities, including investments in CP AXTRA’s affiliates.
Moreover, the two companies will also work together on digital talent development, knowledge sharing, and capability building.
The deeper collaboration also brings together the complementary strengths of the Ayala Group and CP Group towards creating greater value for stakeholders.
Mark Uy, Head of Corporate Strategy and Business Development at Ayala Corporation, noted, “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 at the same time bringing the best of the Philippines to the world.”
Tanit Chearavanont, Group Chief Wholesale Business Officer at CP AXTRA Public Company Limited, said: “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, and e-commerce—starting with Makro’s re-entry into the Philippines, exploring potential co-investments in CP AXTRA’s affiliates, and enhancing management support for other projects.”
For CP AXTRA, it said that the expanded partnership underscores both firms’ commitment to strengthening and expanding across Asia, accelerating long-term growth, and delivering greater value to businesses and consumers throughout the region.
On the other side, ACX said the expanded partnership with CP AXTRA marks its deepening engagement in the consumer sector in the Philippines and potential foray into the Thai market.