Britannia Industries is one of India’s oldest FMCG companies known for its biscuit products. It belongs to the Wadia Group, which is one of the richest families in the country. For the unversed, the Wadia Group, an Indian conglomerate has its portfolio spread from biscuit-making to the aviation business.
The Wadia family is into business since 1736 and also shares a close connection with politician Mohammed Ali Jinnah. Let’s take a look at some interesting facts about one of India’s richest families – the Wadia family.
Business dating back to 1736
Before starting Britannia, the Wadia family was involved in shipbuilding in 1736, Forbes reported. The shipping company was founded by Lovji Nusserwanjee Wadia and had built 355 ships. It included the first ships for the British navy outside England. That’s not all, he also went on to build ships and docks in Bombay (now Mumbai) by securing a contract with the British East India Co.
More than century-old companies
Wadia Group has been in the industry for 200 years. Bombay Dyeing and Manufacturing Co. Ltd and Bombay Burmah Trading Corp. Ltd (BBTC) are more than 100 years old. According to Livemint, Bombay Burmah Trading Corp. Ltd was only the second Indian company to list on BSE, Asia’s oldest bourse.
The Wadia family business tree
In 1952, Neville Wadia joined the Wadia Group and after his death, Nusli Wadia, the billionaire businessman and the chairman of the Wadia Group, joined the business in 1977, Livemint quoted. Ness Wadia and Jehangir Wadia are Nusli Wadia’s children. Ness Wadia is the managing director of Bombay Burmah Trading Corporation.
Jehangir Wadia stepped down from all major positions in the company
Jehangir Wadia was the Managing Director of Go First, Bombay Dyeing, and Bombay Realty. That’s not all, he was also the Director on the Boards of Britannia Industries, The Bombay Burmah Trading Corp. Ltd, Wadia Techno – Engineering Services Limited & others. However, he resigned as the MD of Go Airlines, which was rebranded as Go First. He also stepped down from the boards of Britannia Industries and Bombay Burmah Trading Corp and other listed companies, according to Times of India.
Related to the founder of Pakistan — Mohammed Ali Jinnah
Dina Wadia was the daughter of Mohammed Ali Jinnah, the politician and the founder of Pakistan. Dina was Jinnah’s only child who married a Parsi industrialist Neville Wadia, against the wishes of her father.
The fight to buy Britannia
It was difficult for Nusli Wadia to acquire Britannia which was owned by US-based RJR Nabisco Inc. Nusli Wadia managed to reach out to the management company via his NRI friend and businessman K. Rajan Pillai to acquire the company. However, Pillai was named the chairman of Britannia and his offer was rejected. Later Pillai was accused of fraud and was jailed. Later, Danone joined hands with Wadia and the company was taken over by him officially in the 1990s, as per Livemint.
Owner of a multi-crore airlines
In 2005, the Wadia Group entered the aviation business and launched GoAir that now is rebranded as GoFirst. Founded by Jehangir Wadia, the company earned profit.
Nusli Wadia Rs 60,000 crore net worth
As per Bloomberg, Nusli Wadia has a net worth of Rs $7.90 billion (approx over Rs 60,000 crore).
