Goldilocks to become SMIC subsidiary with majority stake acquisition enablePagination: false endIndex: Metro Manila (CNN Philippines, August 5) — SM Investments Corporation will be adding a new brand in its roster: Goldilocks. In a letter to the local bourse Wednesday, SMIC confirmed the approval of its acquisition of majority of the bakeshop chain’s common shares. “This acquisition will increase SMIC’s current shareholding in Goldilocks to approximately 74% of the outstanding voting capital stock, making Goldilocks a subsidiary of SMIC,” said the listed firm. Prior to the announcement, SMIC only owned 34% of Goldilocks stocks. It also comes months after the Sy family-led corporation completed its buyout of fellow listed firm Chelsea Logistics’s shares in 2GO.