Who Owns Famous Amos Cookies? What Happens Now That Wally Amos Has Died?
Singer Marvin Gaye was an initial investor in the cookie company.
By Elissa NoblittPublished Aug. 15 2024, 9:59 a.m. ET
Famous Amos's delectable, bite-sized cookies can be found in grocery stores, vending machines, and pantries all over the globe. On the surface, it seems to be a small, independent brand — and it certainly started that way. Founder Wally Amos, who was also a musical talent agent, a literacy advocate, and more, would send his home-baked cookies to desired clients in order to entice them to join the agency he worked at.
Later, at the advice of some of his famous friends who loved his baking, he started the company in 1975 in Los Angeles. Marvin Gaye, who was one of the musicians that Wally represented, even helped him get started with a financial loan.
However, in the almost 40 years since the brand's inception, it has blossomed into a multi-million dollar venture and been acquired multiple times. Who owns Famous Amos cookies now?
Wally Amos and his wife.
Who owns Famous Amos cookies? The brand has changed hands several times.
Amos's small business boomed almost immediately, reaching a revenue of around $12 million by its seventh year, according to the New York Times. This led them to branch out into supermarkets, where the cookies are mostly found nowadays. However, sales began to slow a few years after that, and Amos was forced to sell a portion of the business to Bass Brothers Enterprises, who were unable to get the company back on track.
In 1988, the entire brand was sold to the Shansby Group, a private equity firm based in California, and for the first time, Wally acted as a paid spokesperson instead of the company's leader. He quit after only one year, per the New York Times.
Since then, the company has changed hands several times: Famous Amos was sold to the President Baking Company by Shansby in 1992; the President Baking Company, who also made Girl Scout Cookies, was purchased by Keebler in 1998; then the Kellogg Company purchased Keebler in 2001.
As of 2019, Keebler and its subsidiaries — including Famous Amos — have been sold by Kellogg to the Ferrero Group, the maker of Nutella. Because Wally was no longer a part of the company, his death will likely not affect the brand in any way.
ncG1vNJzZmivp6x7pbXSramam6Ses7p6wqikaKhfrLWwec6wpaxllpa6sMHSZpimp6NisLC7yqKcrA%3D%3D