Ovaltine Commercial 1994

 Ovaltine was developed in 1904 by Albert Wander in Bern, Switzerland, where it is known by its original name, Ovomaltine (from ovum, Latin for "egg", and malt, which were originally its key ingredients). In 1927, the factory moved out to the village of Neuenegg, a short distance west of Bern, where it is still produced.

Ovomaltine was exported to Britain as Ovaltine in 1909. A factory was built in Kings Langley, which took it to the United States as well. By 1915, Ovaltine was being manufactured in Villa Park, Illinois, for the U.S. market. Ovaltine was later manufactured in Peterborough, Ontario, for distribution in Canada. Gerald Ethelbert Goldsmith was the president of the Ovaltine Foods at this time.

Originally advertised as consisting solely of "malt, milk, eggs, flavoured with cocoa", the formulation has changed over the decades, and today several formulations are sold in different parts of the world. In India[6] and the UK, it no longer contains eggs.

The popular chocolate malt version is a powder which is mixed with hot or cold milk as a beverage. Malt Ovaltine (a version without cocoa) and Rich Chocolate Ovaltine (a version without malt) are also available in some markets. Ovaltine has also been available in the form of chocolate bars, chocolate Easter eggs, parfait, cookies, and breakfast cereals.

Ovaltine also manufactured PDQ Chocolate Flavor Beads, PDQ Choco Chips, and Eggnog Flavored PDQ, which are no longer available. These drink mixes were very popular from the 1960s to the 1980s.

Villa Park, Illinois, was home to the Ovaltine factory in the United States from 1917 until the company's purchase and withdrawal in 1988. The Villa Park Historical Society maintains a permanent exhibit of Ovaltine advertising and memorabilia. The old factory was converted to loft apartments keeping the original floors and wall exposed, and is known today as Ovaltine Court.