Despite his self-developed Famous Amos Cookies brand finding success, Wally Amos didn’t have the savvy business mind to keep the company on the rise. Due to a $300,000 loss on sales in 1985, Amos sold the majority of the company to Bass Brothers Enterprises for $1.1 million. By 1992, the brand was marketed in retail stores across the country, and the business was then bought by President Baking Company for $61 million.
Due to Amos forfeiting his ownership, he did not see any of that money. He was also no longer allowed to use the brand for any future business ventures. Fast forward to 2020, Amos appeared on “Shark Tank” and attempted to hook in an investment for The Cookie Kahuna.
If there’s one selling point to any of a Amos’ business opportunities, it’s his face. As he walked toward the Shark panel, he held a life-size cardboard cut out of himself. Asking for $50,000 in exchange for 20% equity of the new company, the Sharks were intrigued by his established brand. Unfortunately, poor sales that mainly focused in Hawaii and the Famous Amos brand no longer being available for use meant Amos walked away without a deal.
Hopefully, as he is still a household name, Amos can make more guest appearances like he did on “The Office.” That one brief but hilarious scene proved he’s got the performance chops for whatever TV opportunity is thrown his way.