CP AXTRA expands strategic partnership with Ayala Group to accelerate regional growth and develop new business ventures
Bangkok: November 17, 2025 - CP AXTRA, an operator of Asia’s leading wholesaler and retailer “Makro and Lotus’s,” announced the expansion of its strategic partnership with ACX Holdings Corporation, the retail arm of Ayala Corporation, one of the Philippines’ largest conglomerates. This agreement marks a major milestone in CP AXTRA’s regional expansion strategy.
According to the International Monetary Fund, the Philippines’ GDP is projected to grow by 5.9% next year, the highest in ASEAN—a reflection of the country’s strong economic fundamentals and vast growth potential. The two companies have signed a Memorandum of Understanding (MoU), building on previously executed definitive agreements, with the joint venture marking Makro’s return to the Philippines.
Under these agreements, CP AXTRA and ACX Holdings Corporation will explore a broader range of collaborative opportunities, including investments in CP AXTRA’s affiliates. The two companies will also work together on digital talent development, knowledge sharing, and capability building.
“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,” said Tanit Chearavanont, Group Chief Wholesale Business Officer, CP AXTRA Public Company Limited.
“Ayala, through ACX, is excited to further deepen its relationship with CP AXTRA. We look forward to building on each other’s strengths and developing businesses that expand consumer choices and elevate the retail experience in our respective markets,” added Mark Uy, Head of Corporate Strategy and Business Development, Ayala Corporation.
The expanded partnership underscores CP AXTRA’s commitment to strengthening and expanding across Asia, accelerating long-term growth, and delivering greater value to businesses and consumers throughout the region.
