THE GOOD TIMES TURNED 'SOUR'
“Has The King of Good Times lost his Midas touch?” At age 28 Vijay took control of United Breweries Ltd (UB Group) on the demise of his father Vittal Mallya, who lost his life to heart attack in 1983. A man of high ambition Mallya went on an acquisition spree which included Berger Paints (which was later sold off); Best and Crompton (an engineering film in 1988); Mangalore Chemicals and Fertilisers (called Malabar Chemicals and Fertilisers in 1990). The UB Group which owns some of the biggest Indian alcohol brands, like Royal Challenge, controls 40% of Indian-made foreign liquor (IMFL) acquired companies like Whyte and Mackay and Liquidity Inc which turned Vijay Mallya into a billionaire. UB Group has extended its wings in sports as they entered a joint venture with the Kolkata-based Mohun Bagan football club in 1998. In the same year, the company picked up stake in another club, the Kingfisher East Bengal Football Club. Mallya went on to buy Spyker Ferrari formula one te...