Shaw Wallace & Company Limited (SWCL), a United Breweries (UB) Group Company was incorporated on 15th January 1946 as a private limited. The Company's business is categorized into two divisions, namely Liquor Business and International Business. It currently has products falling under the super premium, premium, prestige and deluxe segments in the liquor business division. The company now operates 14 distilleries across the Nation. Shaw Wallace has made giant strides in the international Alcobev market by developing leading liquor and beer brands for global markets. SWCL's liquors are being exported to some of the prestigious markets across countries like the USA, Latin America, Korea, Mongolia and Singapore. 

In July 1947, the company's status was converted into public limited from private limited and in the year 1959, the Bengal Distilleries became a fully owned subsidiary of the company. The same Bengal Distilleries Company Ltd was merged with the SWCL during the year 1966. The letters of intent were received for a synthetic detergent unit in the Fatehpur district of U.P and for manufacturing white cement in Himachal Pradesh during 1983 and 1984 respectively. The Company launched VSOP', a deluxe brandy and Pink Lady', a premium gin in the year 1986. New vodka, Karmazov' and a new rum, Magic Million' were launched by SWCL during the year 1990. To manufacture some of the more reputed SEC brands, namely Haywards 2000, Haywards 5000 and Royal Challenge beer, Charminar Breweries had entered into agreement with the company during the year 1992. In 1993, Doburg Lager Breweries Ltd and Multiplex Investments Ltd, both were became subsidiaries of the company, while Kerala Chlorates & Chemicals Ltd. and Rajasthan Phosphorus & Chemicals Ltd were ceased to be subsidiaries. 

Alaknanda Manufacturing & Finance Ltd, Haywards Breweries Ltd, Malleswara Finance & Investment Company Ltd and Vibhavari Finance & Investment Company Ltd were became subsidiaries of the company in the year of 1994. During January and February of the year 1996, SWCL had launched Hi Life Whiskey and White Mischief Vodka respectively which received encouraging response from the customers. Two more units one in Punjab and one in Madhya Pradesh were added to the existing units during the same year 1996. SWCL had retained its position as India's largest exporter of alcoholic beverages for the fifth consecutive year, according to statistics available with the Agricultural and Processed Foods Products Export Development Authority (APEDA) in the year 1997. The Company had launched its premium beer brand Royal Challenge Premium Lager in 330 ml cans during the year 1998 and also set up an R&D centre at Maharashtra Distilleries in Aurangabad in the same year 1998. 

SWCL had entered into a strategic alliance with Nepal-based Himalayan Brewery Ltd in the year 1999 for manufacturing seven lakh cases of its popular beer brands per annum to strengthen its presence in the north eastern region of India and in 2003, entered into a strategic Joint Venture with Mysore Breweries Ltd. Also in the identical year of 2003, SWCL made its foray into various wine companies for the import and sale of a range of wines in India. During the year 2004, the company had rolled out White Mischief vodka in Tamil Nadu and also introduced tamper-proof rum in Kerala. The entire control of the company was taken over by the UB group in June of the year 2005 and then it became a group company of UB. The Bombay High Court in August of the year 2006 sanctioned the scheme of arrangement, involving the merger of Shaw Wallace Distilleries, a subsidiary of the company, with McDowell & Company. 

Shaw Wallace Distilleries ceased to be a subsidiary of the company with effect from 5th October 2006 consequent to its amalgamation with McDowell & Company (now known as United Spirits).