Conglomerate Ayala Corp. is deepening its investment in the premium retail sector through a new partnership with Spinneys, a leading premium fresh food supermarket chain based in the United Arab Emirates.
The agreement marks Spinneys’ first expansion outside the Gulf Cooperation Council (GCC) and Ayala’s second major partnership in the grocery segment following its recent deal with Thailand’s CP AXTRA to bring Makro stores to the Philippines.
The venture will open premium grocery stores across Metro Manila, combining Ayala’s local market knowledge and strength in property, retail and logistics with Spinneys’ expertise in high-quality fresh food retail.
Spinneys is owned by the Al Seer Group, a consumer holdings company that is part of a UAE-based group with business interests in industries such as food, retail, hospitality, shipyards and construction and a presence in over 20 countries.
The move follows Ayala’s announcement of its partnership with Thailand’s CP AXTRA to open Makro stores in the Philippines. These, along with earlier collaborations with Kmart Australia Ltd. to bring home and lifestyle brand Anko and with BYD to bring the world’s leading EV brand to the Philippines, underscore Ayala’s continued commitment to partnering with world-class companies, it said in a statement.
The partnership with Spinneys will see Ayala combine its deep local market knowledge and strong experience across the property, retail and logistics sectors with Spinneys’ operational and brand expertise in premium fresh food retail.
“The Philippines offers significant long-term growth potential, with strong economic fundamentals, a growing affluent population and increasing demand for high-quality offerings. Our partnership with Ayala combines their deep local knowledge with our operational expertise, providing a strong foundation to grow,” said Sunil Kumar, chief executive at Spinneys.
“As we enter this next phase, we’re delighted to be bringing our high-quality and fresh offering to a new region that is natural for us to serve as we are proud to employ and cater to many Filipinos in our current market,” said Kumar.
“We are honored to be the first partner of Spinneys as it ventures outside the GCC,” said Cezar Consing, Ayala Corp. president and chief executive.
“We hope this investment will catalyze trade and investment between the Philippines and the GCC. At Ayala, we take pride in partnering with some of the world’s leading companies and working alongside them to bring world-class products and services to the Philippines,” said Consing.
