The Philippine Competition Commission (PCC) has cleared the proposed acquisition by Inoza Business Holdings, Inc. (Inoza) of a majority stake in TBG Food Holdings, Inc. (TBG Holdings).
In its review, the PCC assessed the potential impact of the transaction on the nationwide supply of chicken meat, table eggs, pork, and beef to the food service industry and found no competition concerns, citing the parties’ limited market shares and the availability of sufficient alternative suppliers.
Inoza is a newly formed holding company affiliated with Progeny Global Holdings, Inc., which has interests in agribusiness, food manufacturing, and limited-service restaurants (LSRs). In the Philippines, Progeny operates the Bounty Fresh brand and LSR chains under brands such as Chooks-to-Go and Uling Roasters.
TBG Holdings, on the other hand, is a holding company that owns and operates full-service restaurants under The Bistro Group, including Italianni’s, TGI Fridays, and Texas Roadhouse, among others.
The approval is expected to support continued competition in the food service and agribusiness sectors, while enabling strategic growth for both Inoza and TBG Holdings.
