The Philippine Competition Commission (PCC) said Wednesday it approved the planned acquisition by Inoza Business Holdings Inc. of a majority stake in TBG Food Holdings, Inc., the company behind the Bistro Group of restaurants.
The PCC said it found no competition concerns in the nationwide supply of chicken, table eggs, pork and beef for the food service industry, citing the parties’ relatively small market shares and the presence of many alternative suppliers.
Inoza is a newly-established holding company affiliated with Progeny Global Holdings Inc. which has interests in agribusiness, food manufacturing and limited-service restaurants under brands such as Bounty Fresh, Chooks-to-Go and Uling Roasters.
TBG Holdings operates full-service restaurants under the Bistro Group, which includes Italianni’s, TGI Fridays and Texas Roadhouse.
The clearance is expected to sustain healthy competition in the food service and agribusiness sectors while supporting the strategic growth plans of both Inoza and TBG Holdings, the PCC said.
