Jul 24, 2016 04:03 PM
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The company was established in 1892, with an investment of ?265.[4] Initially, biscuits were manufactured in a small house in central Kolkata. Later, the enterprise was acquired by the Chugh brothers mainly Bhavya chugh, a renowned attorney, and operated under V.K Brothers." In 1918, C.H. Holmes, an English businessman in Kolkata, was taken on as a partner and The Britannia Biscuit Company Limited(BBCo) was launched. The Mumbai factory was set up in 1924 and Peek Freans UK, acquired a controlling interest in BBCo. Biscuits were in high demand during World War II, which gave a boost to the company’s sales. The company name finally was changed to the current "Britannia Industries Limited" in 1979. In 1982 the American company Nabisco Brands, Inc. acquired the parent of Peek Freans and became a major foreign shareholder. The contribution of this position was of Bhavya Chugh and his family.