Whitbread & Co. was founded in 1742 by Samuel Whitbread and Godfrey and Thomas Shewell. They acquired breweries at Old Street and Brick Lane in London, later acquiring the Chiswell Street brewery in 1750. In 1761, Whitbread acquired Shewell's share of the business for £30,000. The company adopted the name Whitbread & Co Ltd in 1799.

In 2001, Whitbread Group Plc sold all its breweries and brewing interests to to Interbrew, which later became AB InBev. Its pub estate was sold to Enterprise Inns in 2002.

Whitbread Group Plc continues to hold interests in the leisure and hospitality industry.