ACX, CP Axtra expand partnership for retail ventures in PH, Thailand

Ayala Corporation's retail arm, ACX Holdings Corp., has expanded its partnership with CP Axtra to explore new retail ventures and co-investments in the Philippines and Thailand.

The expanded memorandum of understanding between ACX and CP Axtra, a major operator of wholesale and retail businesses like Makro and Lotus's, aims to deepen their collaboration.

This partnership signifies ACX's increasing involvement in the Philippine consumer sector and its potential expansion into the Thai market.

Under the new agreement, ACX will explore co-investment and collaboration opportunities with CP Axtra's affiliates.

The collaboration also includes the joint development of a large-format food retail, wholesale, and e-commerce business in the Philippines through the re-entry of Makro.

ACX and CP Axtra have already executed definitive agreements for Makro's re-entry into the Philippines via a new entity, M&Co Corp.

Ayala's head of corporate strategy and business development, Mark Uy, stated that the partnership allows them to offer Filipinos more choices by bringing global best practices to the country.