
Spinneys, Ayala form JV to open supermarket chain in the Philippines
Ayala will hold a 60% stake in the venture.
UAE-based supermarket chain Spinneys has entered a joint venture with Ayala Corporation to establish its first stores in the Philippines, marking its debut in Southeast Asia.
Ayala will hold a 60% stake in the venture, with Spinneys taking the remaining 40%. The partnership will begin with Spinneys overseeing store setup and operations before transitioning full management to the joint venture.
The deal combines Spinneys’ expertise in premium fresh food retail with Ayala’s local market knowledge and access to prime retail spaces.
It is Spinneys’ first expansion outside the Gulf Cooperation Council, whilst Ayala continues to expand its retail portfolio with international brands.