MANILA, Philippines — Moving swiftly to consolidate its retail and property ecosystem, DoubleDragon Corp. has taken a definitive step toward full ownership of its sister retail chain. Shareholders representing nearly 99 percent of MerryMart Consumer Corp. have officially tendered their shares under a massive corporate acquisition offer.
The overwhelming response brings the property conglomerate significantly closer to absorbing the listed grocery and retail chain entirely into its corporate framework.
In an institutional disclosure, DoubleDragon founder and retail tycoon Edgar “Injap” Sia II revealed that the internal name for the integration is “Project Solidify.”
The transaction is structured around a combination of cash payments and a strategic stock-swap mechanism designed to keep existing retail investors anchored to the parent conglomerate’s long-term growth:
[ THE "PROJECT SOLIDIFY" EXCHANGES ]
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[ THE EXCHANGE VALUE ] [ SYSTEMIC BENEFITS ]
• **₱9.30 Fixed Share Price:** The exchange offer mathematically • **Cost-Efficiency Scaling:** By removing redundant overheads,
valued DoubleDragon common shares at a fixed rate of **₱9.30** • the corporate consolidation aims to rapidly streamline logistics
per piece. • and back-end support structures.
• **Blended Payout Pipeline:** Tendering MerryMart investors receive • **Ecosystem Amplification:** Integrating MerryMart directly within
a balanced combination of cash outlays and fresh equity positions • DoubleDragon maximizes operational synergies across the group's
within the parent group. • commercial and warehouse divisions.
The Founder’s Vision: “MerryMart being part of the ecosystem of DoubleDragon will help us streamline the operations, cost-effectiveness, and other advantages of being part of the bigger group,” Sia explained, highlighting that a unified balance sheet will provide significantly greater leverage for upcoming market expansions.
The successful near-total takeover substantially reshapes DoubleDragon’s overarching asset portfolio. By fully absorbing the consumer-facing grocery chain, the conglomerate’s structural foundation now directly spans multiple commercial segments:
[ THE UNIFIED DOUBLEDRAGON ASSET LAYER ]
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[ REITS & HOSPITALITY ] [ RETAIL COMMERCE ] [ INDUSTRIAL LOGISTICS ]
• **Hotel101 Global:** The • **MerryMart:** The consumer • **CentralHub:** The specialized
rapidly expanding global grocery network with formats• industrial warehouse network
hospitality platform. spanning supermarkets and • optimized for nationwide
• **DDMP REIT:** The prime convenience stores. • distribution logistics.
commercial real estate • **CityMall:** The community •
investment trust arm. mall developer operating in •
provincial growth hubs. •
This massive share acquisition comes on the heels of financial milestones for the parent group, which reported a record-breaking ₱28-billion revenue performance in 2025.
Following the regulatory clearing of the offer, Sia reiterated the group’s aggressive, long-term operational targets. By moving MerryMart under the direct financial wings of DoubleDragon, management is looking to optimize its supply chains and capitalize on its previous property layouts, pushing ahead toward its overarching corporate goal of generating ₱500 billion in total ecosystem revenues by 2035.
