Ovaltine, originally called Ovomaltine, was developed in 1904 by Swiss chemist Albert Wander, who sought to create a nutritious drink from barley malt, milk, egg, and cocoa.

 

The name "Ovaltine" was adopted for the British market, and a factory was established in Kings Langley, England, in 1913. 
Here's a more detailed look at the history:

 

1865: Dr. Georg Wander, a Swiss chemist, founded the Wander company in Bern and began researching the nutritional value of barley malt.

 
1904: Albert Wander, son of Georg Wander, developed Ovomaltine (later Ovaltine) by combining barley malt extract with milk, egg, and cocoa. 

1909: Albert Wander established the British company A. Wander Ltd. and the name Ovomaltine was changed to Ovaltine for the British market. 

1913: A small factory to manufacture Ovaltine was built in Kings Langley, England. 

1920s: The business expanded rapidly, and the factory was extended to almost its present size by the end of the decade. 

1929:
Wander purchased two farms near the factory: Numbers Farm at Kings Langley and Parsonage Farm at Abbots Langley, to ensure a steady supply of ingredients. 

1930s: Ovaltine became popular as a health product, and a group of children known as the Ovaltinies, who were so popular they had their own radio show, helped to popularize the drink. 

1948: Ovaltine was the official sports drink of the 1948 Olympic Games in Wembley, with 25,000 cups served to competitors. 

1953: Ovaltine was also supplied on Sir Edmund Hillary's successful attempt to climb Mount Everest. 

1967: Wander's company was taken over by Sandoz. 

1996: Sandoz came under the Novartis umbrella. 

2001: The Ovaltine factory in Kings Langley was closed, and production was moved to Neuenegg, near Bern, Switzerland.