[4] Beginning with the circumstances of its takeover by the Wadia Group in the early 1990s, the company has been mired in several controversies connected to its management,[5][6] but it continues to hold a large market share.

Holmes, an English businessman based in Kolkata, was taken on as a partner and The Britannia Biscuit Company Limited (BBCo) was launched.

[9][6] In 1993, textile tycoon Nusli Wadia of Bombay Dyeing took control of the company from Britannia's then-chairman Rajan Pillai, with the help of French food giant Danone.

[17] The company's principal activity is the manufacture and sale of biscuits, bread, rusk, cakes and dairy products.

[18] The brand names of Britannia's biscuits include MarieGold, Tiger, Nutrichoice, Good Day, 50 50, Treat, Pure Magic, Milk Bikis, Bourbon, Nice Time and Little Hearts among others.

On 27 October 2001, Britannia announced a joint venture with Fonterra Co-operative Group of New Zealand, an integrated dairy company which handles all aspects of the value chain from procurement of milk to making value-added products such as cheese and buttermilk.

It would not be allowed to trade, except at the wholesale level, thus pitching it in competition with Danone, which had recently established its own dairy business.

[21] In 1993, the Wadia Group acquired a stake in Associated Biscuits International (ABIL), and became an equal partner with Danone in Britannia Industries Limited.

It was agreed that, in case of a deadlock between the partners, Danone was obliged to buy the Wadia BSN stake at a "fair market value".

[24] Under the 1995 joint venture agreement, Danone is prohibited from launching food brands within India without the consent of the Wadias.

[27] In May 2007, Nusli Wadia told the Ministry of Commerce and Industry that Danone invested in a Bangalore-based bio nutrition company, Avesthagen, in October 2006 in violation of the government's Press Note 1, 2005, which requires a foreign company to obtain the consent of its Indian joint venture partner before pursuing an independent business in a similar area, including joint ventures based purely on technical collaboration.

Danone argued that Press Note 1 did not apply to it as it did not have a formal technology transfer or trademark agreement with Avesthagen, and that its 25% holding in Britannia was indirect.

[30] After a prolonged legal battle, Danone agreed to sell its 25.48% stake in Britannia to Leila Lands, which is a Wadia group[31] entity based in Mauritius, and quit this line of business.

[36] In March 2017, it formed a joint venture with Greek firm Chipita SA for producing and selling ready-to-eat croissants in India.

[38] During the COVID-19 pandemic in India, it tied up with personal concierge startup Dunzo to deliver essential goods at the customer's doorstep in April 2020.