Makro starts Philippine comeback in 2027

MANILA, Philippines — Consumers eagerly anticipating the return of Makro in the Philippines will have to wait a little longer before they can once again shop at the grocery chain.

Ayala head of corporate strategy and business development Mark Uy told The STAR that the first Makro store in the country under the new operators is targeted to open by 2027.

“We haven’t started construction yet,” he said.

Uy said the first store would be located in Quezon City, beside Ayala Malls Cloverleaf.

Makro promises to offer a modern shopping experience with a wide range of food and non-food products at accessible prices for both consumers and small business operators.

Makro’s revival in the Philippines is being made possible by Ayala in partnership with CP AXTRA Public Co. Ltd. of Thailand.

Ayala announced last week the execution of definitive agreements with CP AXTRA, Asia’s leading operator of wholesale and retail businesses Makro and Lotus’s, for the operation of Makro stores in the country.

ACX Holdings Corp., a wholly owned subsidiary of Ayala, and Makro ROH Co. Ltd, a subsidiary of CP Axtra, have committed equity interest of 49.9 percent and 50.1 percent, respectively, in an investee entity called M&Co Corp. to operate the business venture.

Pilipinas Makro, which previously operated the Makro stores in the Philippines, was originally a partnership between the Sy family’s SM group, SHV Holdings N.V. of the Netherlands and the Ayala Group through its property arm Ayala Land Inc.

In 2004, however, Ayala Land sold to its joint venture partners its 28-percent stake.

In late 2007, SM Investments folded the Makro stores into its operations after it increased its ownership of Pilipinas Makro to 60 percent. The company then converted its Makro stores into SM-branded hypermarkets.