Goodwill and its Economic Growth

In Course 3, Unit 6, Lesson 6, there is an example at the end, that Preston compares the See's Candies against a Boring Square Company:

Can someone please explain where is the Goodwill in this comparison example?
To me, this is a clear example of comparing two companies with two different ROE. Or better to say comparing two companies with two different RONTA.
So, I don't really see how Goodwill plays a role here? We are comparing two companies, which one has a better ROE (or RONTA) than the another. And obviously one with the higher ROE (RONTA) will be a better investment choice.
I don't see why one is better than other because of Goodwill?

Sign In or Register to comment.