MerryMart to Delist from PSE Amid Acquisition Plans

Retail firm eyes exit from local bourse as tender offer runs until June 16 after regulatory clearance and board approval.

MerryMart has announced plans to delist from the Philippine Stock Exchange (PSE) following a proposed acquisition by DoubleDragon Corp.

The company said its Board of Directors approved the delisting on June 1. If approved, MerryMart would be the third company to exit the local bourse this year after Asian Terminals Inc. and Robinsons Retail Holdings Inc., both tied to strategic acquisitions.

DoubleDragon previously announced a tender offer of ₱0.48 per common MerryMart share plus a DD share valued at ₱9.30. The offer commenced on May 18 and will run until June 16, giving shareholders a limited window to accept the terms ahead of the planned delisting process.

In March, the Philippine Competition Commission cleared DoubleDragon Corporation’s proposed acquisition of a 35% stake in MerryMart Consumer Corp. worth ₱1.28 billion, removing a key regulatory hurdle for the transaction.

DoubleDragon is positioning the tender offer as part of efforts to streamline operations and reduce costs amid ongoing economic volatility and shifting market conditions that have weighed on retail and consumer-facing firms.

MerryMart, which launched in 2019 as a grocery and retail chain, had grown to 136 stores nationwide as of 2024, reflecting its rapid expansion in the years following its market debut.

If completed, the deal would mark another step in consolidation within the Philippine retail sector, as listed companies reassess public market exposure amid tighter capital conditions and strategic restructuring.