good will be an asset when in the right hands. companies acquired others for their good wills must know what to do with it and how to make the most out of it.
one company i exclusive represented had the best good will in its own narrowly defined category, then a bigger company acquired that company, then an even bigger one acquired the second one...the good will is gone: that narrowly defined category is no longer in the picture
in other cases, the companies bought other companies for a theoratical strength bundle. well, never could implement a real integration....i see that in almost every part of logistics industry right now