Chooks-To-Go and TGI Fridays in the Philippines will soon be under one corporate parent.
In its press statement on Wednesday, August 20, the Philippine Competition Commission (PCC) said that it has cleared the proposed acquisition by Inoza Business Holdings, Inc. of a majority stake in TBG Food Holdings, Inc., which owns restaurant business giant The Bistro Group.
“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,” the statement read.
Furthermore, “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.”
Inoza is a 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.
Meanwhile, TBG Holdings is another holding company that owns and operates a network of over 200 full-service restaurants outlets under The Bistro Group umbrella, which operates brands like Italianni’s, TGI Fridays, and Texas Roadhouse.