The Cowan Company of Toronto, Limited, was established in 1885 by John Warren Cowan, with the founding policy of “quality—first and last—and let the people know it by judicious advertising.” J W Cowan was born in the Republic of Ireland in 1841, and married a Canadian woman, Montrealer Isabella Dimmock, in 1867, who he had eight children with.

J W Cowan wanted to establish a company that valued creating products that looked good, as the visual appeal of the products was intended to demonstrate the quality of the product to the consumer, as well as to create a product which was easily identifiable. J W Cowan wanted to create diversity in the market of cocoa and chocolate products, amd created the Cowan Company of Toronto in order to create the products he wished to see on the market; individually packaged chocolate and cocoa goods of higher quality than bulk products that were widely available at the time, and with a consistency in product that would ensure the loyalty of the customer, as well as creating a uniquely Canadian product.

The Cowan Company changed hands in 1908, when it was inherited by J W Cowan's son, Herbert Norton Cowan, after J W Cowan's death. In 1926, the company was sold to Rowntree and Company Canada, Limited, and was known best for the creation of the Kit Kat, Smarties and Aero candies. In 1988, Nestlé acquired Rowntree Company and has since owned the copyrights to all the Cowan and Rowntree products.