Ayala Ventures into Premium Grocery Business

Ayala Corp. is venturing into the premium grocery business through its wholly owned subsidiary ACX Holdings Corp. with the planned entry of Spinneys 1961 Holdings PLC, a premium supermarket chain from the Middle East.

Spinneys is majority-owned by the Al Seer Group, a UAE-based consumer holdings company. (Photo: Spinneys)

Spinneys is a leading fresh-focused premium retailer with a network of 87 stores across the United Arab Emirates, Oman, and Saudi Arabia.

It recently signed a joint venture agreement to expand into Kuwait. Its entry into the Philippines marks the brand’s first expansion outside the Gulf Cooperation Council (GCC).

Spinneys is majority-owned by the Al Seer Group, a UAE-based consumer holdings company with business interests in food, retail, hospitality, shipbuilding, and construction, and operations in over 20 countries.

The completion of the transaction is subject to the fulfillment of certain conditions precedent by the parties.