The Philippine Competition Commission (PCC) has cleared the proposed acquisition by DoubleDragon Corporation of shares in MerryMart Consumer Corporation, allowing the transaction to proceed before the end of the regulator’s Phase 1 review period.
In a statement, the antitrust body said its Mergers and Acquisitions Office conducted a detailed assessment of the deal’s potential impact on competition, focusing particularly on areas where DoubleDragon’s real estate operations intersect with retail businesses that depend on leased commercial and warehouse space.
DoubleDragon, known for its nationwide retail complexes under CityMall Commercial Centers and logistics facilities under CentralHub Industrial Centers, plays an upstream role in property leasing for retail operators.
MerryMart, meanwhile, has been expanding its footprint in the downstream market through supermarkets and convenience stores across the Philippines.
Regulators therefore examined both sides of the supply chain.
The review covered markets for commercial space leasing, general warehouse facilities, and retail grocery and convenience operations in cities and municipalities where the companies’ activities overlap.
After the review, the PCC concluded the transaction is unlikely to substantially lessen competition.
According to the commission, several strong competitors remain active in both property leasing and food retail, limiting the combined firms’ ability to engage in practices such as input foreclosure—where rivals could be denied access to retail space or warehouses—or customer foreclosure that could restrict consumer choice.
The clearance underscores the PCC’s balancing act: guarding against anti-competitive consolidation while allowing corporate expansion that can scale distribution networks and retail reach.
The PCC approval removes a regulatory hurdle for DoubleDragon and MerryMart as they pursue deeper integration between real estate infrastructure and consumer retail operations, an increasingly common strategy in the evolving Philippine retail landscape.
