Here is what I learned.
In the initial stage of manufacturing, milled malted barley and wheat flour are mashed together in hot water where the starch is converted into sugars. To this sugar solution dairy powders are added. The water content is then evaporated to form a syrup that is dried in vacuum band driers to form a cake. This cake is milled into the finished powder...
1873: James Horlick, a pharmacist joined his brother, William, in the US and together they founded the company J and W Horlicks in Chicago to manufacture a patented malted milk drink as an artificial infant food...
This bottle I found is not nearly that old.
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