No. Willy Wonka is a fictional character from the novel 'Charlie and the Chocolate Factory' which was first published in 1964. Although the story is set in an imaginative world full of magic and wonder, it has no basis in real events from 1896 or any other time in that regard.
Willy Wonka is about a mysterious and eccentric chocolatier who invites a group of children to his factory for a wild adventure filled with sweet surprises and challenges.
He could be portrayed as a mysterious and eccentric figure, just like in the original stories. His wild ideas and love for creating strange and wonderful candies can be a big part of his character. For example, he might suddenly start dancing around the factory while showing the male reader his latest creation.
The Oompa - Loompas would definitely be main characters. They could play the role of protectors or guides for the baby. Charlie Bucket could also be a main character, perhaps as an older brother - like figure to the baby. Veruca Salt might be there too, causing trouble as she usually does and trying to get the baby on her side to help her get more candies.