SM Investments acquires majority stake in Goldilocks Bakeshop

ABS-CBN News

Posted at Aug 04 2021 03:18 PM

MANILA - SM Investments Corp approved the acquisition of a majority of the outstanding common shares of Goldilocks Bakeshop Inc, it said Wednesday. 

The acquisition will increase SMIC's shareholdings in Goldilocks to about 74 percent of the outstanding voting capital stock, "making Goldilocks a subsidiary of SMIC," the Sy-led group said in a disclosure to the stock exchange.

No other details were disclosed.

The bakeshop chain offers cakes, pastries and other food and beverage items. 

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