The Philippine Competition Commission (PCC) has authorized DoubleDragon Corp.’s acquisition of shares in MerryMart Consumer Corp., delivering its decision ahead of the standard Phase 1 review deadline.

The PCC clearance allows DoubleDragon, a real estate developer chaired by Edgar “Injap” Sia II and Tony Tan Caktiong, to deepen its ties with the fast-growing retail chain.

DoubleDragon’s portfolio spans retail complexes, office spaces, industrial hubs, and hospitality. Its key subsidiaries include CityMall Commercial Centers Inc., which operates a network of community malls, and CentralHub Industrial Centers Inc., a provider of industrial warehouse complexes.

MerryMart, meanwhile, operates a nationwide chain of supermarkets and convenience stores.

The PCC said the antitrust regulator’s Mergers and Acquisitions Office focused its review on whether the deal would stifle competition in the leasing of commercial and warehouse spaces to grocery and convenience stores.

Specifically, the commission examined markets where CityMall and CentralHub maintain a presence. The assessment tracked both upstream markets—the supply of commercial real estate and general warehousing—and downstream markets, where MerryMart competes directly for retail customers.

During the investigation, PCC said the MAO consulted with various industry stakeholders, including rival retail chains, customers, and relevant government agencies.

The regulator sought to determine if the vertical integration of DoubleDragon’s real estate assets and MerryMart’s retail operations would give the merged entity the power to lock out competitors.

The MAO ultimately concluded that the transaction is unlikely to result in a substantial lessening of competition.

Investigators found that the presence of robust competitors in both the real estate and retail sectors would prevent the companies from successfully engaging in input foreclosure—the practice of restricting rivals' access to essential locations or facilities.

Furthermore, the commission ruled that the deal would not lead to customer foreclosure, a scenario where consumer choice is restricted through dominant retail positioning.

The decision signals a green light for the two companies to proceed with their strategic alignment. The PCC stated that the clearance aligns with its mandate to safeguard competitive markets while permitting corporate consolidations that foster economic growth.

By clearing the transaction before the Phase 1 limit, the regulator noted the lack of immediate competitive concerns regarding the tie-up between the developer and the grocer.