Fresh food supermarket chain Spinneys has entered a joint venture with Ayala Corporation to establish stores in the Philippines, marking its first move into Southeast Asia.

Under the agreement, Ayala will hold a 60 per cent stake and Spinneys 40 per cent.

The rollout will take place in two phases: Spinneys will initially oversee operations before management transitions fully to the joint venture.

Cezar Consing, president and CEO of Ayala Corporation, said the deal highlights the group’s growing role in Philippine retail.

“We hope this investment will catalyse trade and investment between the Philippines and the GCC,” Consing said.

Spinneys CEO Sunil Kumar said the Philippines offers strong long-term potential, with a growing middle and upper-income population driving demand for premium 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,” he explains.

“Our partnership with Ayala combines its deep local knowledge with our operational expertise, providing a strong foundation to grow in a measured way. We’re delighted to be bringing our fresh food offering to a new region.”

Spinneys has expanded steadily in recent years, opening 10 new stores in the UAE this year and announcing plans to enter the Kuwaiti market.