ACX targets late 2026 for Makro’s return to Philippines

ACX HOLDINGS CORP. is targeting late 2026 for the opening of the first Makro store in the Philippines as part of the brand’s return to the local market.

ACX Senior Vice-President and Head of Business Development Rohit Kohli told BusinessWorld that the company aims to open four stores in its first year, with the initial site targeted between the fourth quarter of 2026 and the first quarter of 2027.

“Store 1 and 2 will be at Cloverleaf and Arca South. For initial general rollout, [we are] targeting the Greater Manila area,” Mr. Kohli said in an e-mail response to questions.

Cloverleaf and Arca South are Ayala Land, Inc. developments.

In September last year, Ayala Corp. signed a deal with Thai retailer CP Axtra to relaunch Makro grocery stores in the Philippines through its wholly owned subsidiary, ACX Holdings.

Makro, a Dutch international brand, first entered the Philippine market in 1996 through a joint venture among SHV Holdings N.V., Ayala Corp., and Sy-led SM Investments Corp.

Ayala later sold its 28% stake to the SM Group, which rebranded Makro outlets in 2009. SHV also divested its Asian Makro operations, which are now operated by Thailand’s Charoen Pokphand Group through CP Axtra.

ACX Holdings and CP Axtra subsidiary Makro ROH Co., Ltd. also formed a joint venture, M&Co. Corp., which will operate the Makro stores.

Ayala Land Head of Leasing and Hospitality and Ayala Malls President Mariana Zobel de Ayala earlier told BusinessWorld that a Makro store will open at Ayala Malls Arca South.

Mr. Kohli said ACX has an active partnership with Anko and is working with partners from Makro and Spinneys on new ventures.

“ACX remains open and is actively searching for other potential concepts that we believe would uplift retail standards in the Philippines,” he added.

Anko, established in 2017, is part of Kmart Group, which includes Kmart Australia, Target Australia, and Anko Global. These are owned by Wesfarmers Ltd.

Anko debuted in the Philippines in November 2024 with a store at Glorietta 2 in Makati City under a joint venture with Ayala Corp.’s mall unit, Ayala Malls.

At the local bourse on Monday, Ayala Corp. shares fell by 2.25% to P522 apiece. — Alexandria Grace C. Magno