BIZ BUZZ: Goldilocks abandons the Three Bears
The classic tale of Goldilocks and three bears of varying sizes remains relevant to this day—and not only because it teaches the importance of boundaries.
In the Philippines, Goldilocks Bakeshop Inc. is already well-established in its own right, but it has also dabbled in a fairytale of its own kind, although with a different set of bears.
Goldilocks previously held a 35-percent equity stake in Three Bears Group Holdings, a local firm established in 2020 and whose portfolio includes Domino’s Pizza.
But by 2024, Goldilocks officially left Three Bears—much like how the classic story ended.
SM Investments Corp., which owns 64.1 percent of Goldilocks, confirmed to Biz Buzz on Monday that the bakeshop chain undertook the private transaction last year, although other details were not disclosed.
Based on the conglomerate’s 2024 annual report, its divestment from both Three Bears and the now private Premium Leisure Corp. resulted in an impairment reversal of P84 million.
Let’s hope that this brings good luck to Goldilocks and its nearly 1,000 stores—and not actual cranky bears grumbling about stolen porridge.
