Famous Amos Gets A Chinese Accent

Chinese noodles for dinner and Famous Amos cookies for dessert? It may seem like a strange combination, but not to President Enterprises Corp. On Sept. 15, the Taiwanese food giant bought the Famous Amos brand of chocolate chip cookies from a San Francisco LBO group for $60.6 million. Says George K. Liu, chief executive of President's U.S. division: "Finally, we have a recognizable national brand."

To hear Liu's bosses in Taiwan, it's only the first of many. Founded in 1967, President Enterprises started out selling animal feed and flour. It is now the largest food company in Taiwan and one of the country's biggest public corporations. Last year, it earned $81 million, 90% more than the year before, on $800 million in sales. In Taiwan, it markets everything from noodles and frozen foods to Kentucky Fried Chicken and Pepsi-Cola. Now nearing market saturation at home, it is going abroad in a big way. "In 25 years, we will be one of the biggest food companies in the world," proclaims Chief Executive C. Y. Kao.