PCC approves Inoza's acquisition of TBG Food Holdings

The Philippine Competition Commission (PCC) has approved Inoza Business Holdings, Inc.'s proposed acquisition of a majority stake in TBG Food Holdings, Inc., finding no competition concerns.

This transaction involves the supply of chicken meat, eggs, pork, and beef to the food service industry where market shares are limited and alternative suppliers are readily available.

Inoza is an affiliate of Progeny Global Holdings, which operates several agribusiness and food brands such as Bounty Fresh, Chooks-to-Go, and Uling Roasters.

TBG Holdings runs full-service restaurants including Italianni's, TGI Fridays, and Texas Roadhouse across 214 branches nationwide.

The PCC highlighted that the approval supports competition in the food service and agribusiness sectors while enabling strategic growth for both companies.

Under the Philippine Competition Act, the PCC reviews mergers and acquisitions to ensure they do not harm competition or restrict consumer choice.

In recent years, the PCC has reviewed numerous transactions totaling over P6 trillion, reflecting its ongoing commitment to market regulation.