DoubleDragon Corporation (DD) has successfully completed its acquisition of MerryMart Consumer Corporation (MM), with nearly 99% of MerryMart shareholders agreeing to exchange their shares. This means almost all MerryMart shareholders said “yes” to joining the bigger DoubleDragon family.
According to a message from DoubleDragon founder Injap Sia, this deal – which the company calls “Project Solidify” – allows MerryMart shareholders to become DoubleDragon shareholders. Each DoubleDragon share in the exchange was valued at Php 9.30.
What Does This Acquisition Mean?
Think of it like this: MerryMart was already part of the DoubleDragon family, but now they’re becoming even more connected. By bringing MerryMart closer into the DoubleDragon group, the company says they can work together more smoothly, save money, and run their businesses better – like when family members live in the same house instead of separate houses, they can share resources and help each other more easily.
The shareholders who accepted the offer received half cash (real money) and half DoubleDragon shares (ownership in the bigger company) in exchange for their MerryMart shares.
DoubleDragon’s Big Plans for 2035
Injap Sia, who grew up in the provinces of the Philippines, shared his ambitious vision for the DoubleDragon Group over the next nine years. The company wants to grow its total revenues by 18 times – or 1,800% – from P27.9 Billion recorded in 2025 to P500 Billion by 2035.
To put this in simpler terms: if DoubleDragon made P27.9 Billion last year, they want to make P500 Billion in nine years. That’s like going from having 279 pesos to having 5,000 pesos – a huge jump!
What is DoubleDragon Working On?
According to Sia’s message, the DoubleDragon Group and its subsidiaries are working on several projects:
- MerryMart – grocery stores with new layouts being tested
- CityMall – expanding to cover all 82 provinces in the Philippines, with upgrade plans called “Project Bloom” to make them ready for younger shoppers (GenZ market)
- CentralHub – warehouse facilities, including expansion in Capiz province
- DD Meridian Park – working on interior designs for Ascott hotel
- Hotel101 – a hotel business model they plan to bring to 100 countries worldwide
Stock Performance Since IPO
DoubleDragon first listed on the Philippine Stock Exchange 12 years ago in 2014 as a startup company at P2 per share. As of June 16, 2026, the stock trades at P12.28 per share – that’s more than 6 times higher, or a 600% increase from its original listing price.
This means if someone bought DoubleDragon shares when the company first started trading in 2014 for P2, those same shares would now be worth P12.28 each – they would have made 6 times their money.
Sia acknowledged that reaching the 2035 vision “will surely not be a straight line,” meaning there will be challenges along the way, but expressed confidence that with hard work, discipline, and focus, the team can achieve their goals.
The disclosure was signed by Atty. Joselito L. Barrera, Jr., Chief Information Officer of DoubleDragon Corporation.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
