Goldilocks is now the owned by SM retail Incorporated.
This happened after the Philippine Competition Commission or PCC approved the acquisition by SM Retail Inc. of Goldilocks Bakeshop Inc. after both parties have committed to address potential issues that may arise from unfair competition because SM houses several competitors under the same category that Goldilocks is in.
Similar to a probationary status the PCC gave SM retail five years to prove its worthiness to guarantee that no unfair competition will fall against Goldilocks competitors. This means that the PCC will see if the SM Mall is providing other competitors to its recent acquisition such as Red Ribbon, Sugarhouse, Bread Talk and other stores that offer baked goods and pastries.
Goldilocks has a total chain of 500 stores and this means that SM is strongly positioning itself to become the biggest brand in terms of Cakes and Pastries.
SM retail operates several specialty chains which include Ace Hardware, Homeworld, Our Home, Toy Kingdom, Watson’s, Baby Company, Sports Central, Kultura, and have majority stakes in local operations of Forever 21, Crate & Barrel, and even an active share in Uniqlo.