Magnolia Bakery is the New York dessert shop that turned banana pudding and pastel cupcakes into a worldwide habit. Most fans know the little corner shop on Bleecker Street, but far fewer know who owns the brand today. The answer involves a TV cameo, two ownership changes, and an investment firm backed by a billionaire football owner.
Who Owns Magnolia Bakery in 2026?
Magnolia Bakery is owned by RSE Ventures, a New York private investment firm founded by Stephen M. Ross and Matt Higgins. RSE bought the chain in early 2021 for an undisclosed price, and PitchBook lists it as the majority holder.
Nathan Louer has been CEO since February 2026. Longtime leader Bobbie Lloyd is now chief brand officer and chief baking officer, and company announcements still describe her as a co-owner. Magnolia is a private company, so there are no public shareholders.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake | Key Detail |
|---|---|---|---|
| RSE Ventures | Parent company and majority owner | Majority (exact % undisclosed) | Bought Magnolia in early 2021 |
| Stephen M. Ross | Co-founder and chairman of RSE | Indirect, through RSE | Founder of Related Companies; principal owner of the Miami Dolphins |
| Matt Higgins | Co-founder and CEO of RSE | Indirect, through RSE | Dolphins vice chairman from 2012 to 2021 |
| Uday Ahuja | RSE managing partner | Board role | Chairman of Magnolia’s board |
| Bobbie Lloyd | Chief brand officer and chief baking officer | Described as co-owner | With the company since 2006; CEO for nearly five years |
| Nathan Louer | CEO | Management role | Joined in February 2026; formerly of Jamba and Jimmy John’s |
| Steve Abrams | Previous owner | Sold in 2021 | Bought the bakery in 2006 |
| Allysa Torey and Jennifer Appel | Founders | Exited | Opened the first shop in 1996 |
Who Is RSE Ventures?
RSE Ventures was founded in 2012 and invests in sports and entertainment, media, food and lifestyle, and technology, according to Crunchbase. Its food portfolio includes Momofuku, Milk Bar, and Bluestone Lane, as a company press release shows.
Stephen M. Ross built Related Companies and is the principal owner of the Miami Dolphins and Hard Rock Stadium. That puts him among the richest NFL owners. His partner Matt Higgins spent years as the Dolphins’ vice chairman before focusing on RSE full time.
The Origin Story: A Corner Shop on Bleecker Street
Jennifer Appel and Allysa Torey opened the first Magnolia Bakery in 1996 at 401 Bleecker Street in New York’s West Village, as Wikipedia records. They published a cookbook in 1999, the same year Appel left after a disagreement about expansion plans.
Fame arrived through a short cameo in HBO’s Sex and the City, a Warner Bros. family network. That scene helped turn a tiny neighborhood shop into a tourist stop, and the banana pudding became the star of the menu.
The Steve Abrams Years: 2006 to 2021
In 2006, Torey sold the bakery to restaurateur Steve Abrams. Fortune reports the price was about $1 million, and Bobbie Lloyd came in as his business partner.
Under Abrams, Magnolia opened its first overseas store in Dubai in 2010 through a master franchise deal with Al Tayer Group, according to World Coffee Portal. He also announced plans for up to 200 new U.S. stores in 2018, but that rollout never happened on schedule.
Why Abrams Sold to RSE Ventures
The sale became public in June 2021, when the Wall Street Journal reported that RSE had bought the chain. Abrams said expanding the brand needed far more capital than he had, as a local report on the deal explains.
Timing helped RSE. Magnolia’s online sales nearly tripled in 2020, and RSE already had food experience through Momofuku and Milk Bar. Bobbie Lloyd became CEO when RSE took over, and Inc. later described the move as Magnolia’s private equity era.
A New CEO and the 2026 Franchise Push
In February 2026, Magnolia named Nathan Louer CEO, as Nation’s Restaurant News reported. The company runs about 50 locations, including roughly 40 outside the United States, and planned 19 more by the end of 2026.
Nine of the new U.S. shops are franchised, according to QSR Magazine. They are planned for Salt Lake City, Las Vegas, Detroit, Louisville, Fairfield County, Cleveland, and Staten Island. Franchise Times says each franchisee must commit to three to five units, and the first one was set to open in Salt Lake City in June 2026.
Where Magnolia Fits in the Dessert Business
Magnolia competes in a crowded corner of the food and beverage world. Rivals range from old-school bakeries to social-media-driven chains such as Crumbl Cookies.
Its edge is nostalgia and a famous product. The same investor also holds Milk Bar, so RSE has two well-known New York dessert brands under one roof.
Magnolia Bakery is owned by RSE Ventures, the investment firm of Stephen Ross and Matt Higgins, which bought it in early 2021 from Steve Abrams. The shop began in 1996 with two founders, passed through Abrams in 2006, and is now run by CEO Nathan Louer with Bobbie Lloyd still shaping the brand.
With a 30th anniversary and a U.S. franchise push in 2026, the bakery is moving from a handful of New York shops toward a national chain. Ownership stays private, and RSE remains firmly in control.
Frequently Asked Questions (FAQs)
Q1. Who owns Magnolia Bakery in 2026?
RSE Ventures owns Magnolia Bakery, having bought it in early 2021.
Q2. Who founded Magnolia Bakery?
Jennifer Appel and Allysa Torey opened the first shop in 1996 on Bleecker Street.
Q3. Who owned Magnolia Bakery before RSE Ventures?
Steve Abrams owned it from 2006 until the 2021 sale.
Q4. Who is the CEO of Magnolia Bakery?
Nathan Louer became CEO in February 2026, succeeding Bobbie Lloyd.
Q5. Who runs RSE Ventures?
Stephen Ross is chairman and Matt Higgins is CEO and co-founder.
Q6. Is Magnolia Bakery publicly traded?
No, it is a private company with no stock market listing.
Q7. Is Magnolia Bakery franchised?
Yes, it has franchised abroad since 2010 and began U.S. franchising in 2026.
Q8. How many Magnolia Bakery locations are there?
About 50 worldwide, with roughly 40 outside the United States, as of early 2026.
Official website: magnoliabakery.com
