LOS ANGELES -- A controlling interest in the Famous Amos Cookie Co. was purchased by a group of investors that includes former U.S. Sen. John Tunney, it was reported.
It marks the second time this year that control of the company has shifted hands.
It was bought from founder Wally Amos in February by the Bass brothers of Fort Worth, Texas.
No price was disclosed, but the Los Angeles Times reported Monday that company President Donald Sawyer said the Bass's 51 percent stake in the company was worth less than $5 million.
The Times also reported that the investment group, led by New York apparel executive Sidney Kimmel, plans to expand Famous Amos to include ice cream, candy bars and soft drinks.
It also plans an East Coast factory for the chocolate chip cookies, and a quadrupled advertising budget.