Britannia was established in 1892 in Kolkata with an initial investment of ₹295. It was acquired by the Gupta brothers and operated under the name "V.S. Brothers." A factory was set up in Mumbai in 1924. In the late 1980s, Kerala businessman Rajan Pillai secured control of the group. Between 1998-2001, Britannia's sales grew at 16% annually compared to the market. Currently, biscuits account for 90% of Britannia's annual revenue of Rs22 billion while dairy products contribute around 10%.