A few hundred feet from the iconic Stabroek Market clock tower, at Water Street and Brickdam, Georgetown, Guyana, stands D’Aguiar Imperial House (DIH). Built in the late 1940s DIH sits prominently in the Stabroek Market square a central meeting point for people for all parts of Guyana.
A few hundred feet from the iconic Stabroek Market clock tower, at Water Street and Brickdam, Georgetown, Guyana, stands D’Aguiar Imperial House (DIH). Built in the late 1940s DIH sits prominently in the Stabroek Market square a central meeting point for people for all parts of Guyana. DIH was the famous “watering hole” for those who sought entertainment after and during business transactions in the city of Georgetown.
In the early days the facility housed the manufacturing and bottling plant for Pepsi, ICee soft drinks, and a pool hall for the droves of folks who imbibed D’Aguiar’s world famous alcohol. Many of the patrons congregated in this spot having spent long periods in the interior of British Guiana in their quest for gold and diamond.
History of D’Aguiar Bros. transition to Banks DIH Limited
The D'Aguiar Family was in business in Guyana beginning in 1840 when Jose Gomes D'Aguiar started a “Rum Business” which he developed into a chain of Retail Spirit Shops known locally as “rum shops”. In 1885 the business was expanded to include a cocoa and chocolate factory and a schooner shipping agency.
In 1896, three years after the death of Jose Gomes D’Aguiar, his four sons, Jose Jr, Manoel, Francisco and John formed a partnership named D'Aguiar Bros and in October 1896 purchased the Demerara Ice House which then consisted of a hotel, liquor bars and an aerated soft drink plant. The Demerara Ice House was so named because ice was imported in schooners from Canada and was stored and distributed from the facility. The acronym of the Demerara Ice House, DIH, became the brand of the company and is still in existence today with international recognition. The DIH had several connotations, D”Aguiar Imperial House and also D’Aguiar Industries and Holdings” being prime examples.
The Demerara Ice House purchase was arranged by auctioneer Hon. J.H. de Jonge, for the substantial sum (in those days) of $50,000.00 for buildings only. Eventually, an initial twenty-one year lease was negotiated from the Crown in whose title all lands were vested in those days.
In 1929 an outright purchase of the land was negotiated and Dr. J. G. D’Aguiar the father of Peter D’Aguiar, who was then the sole proprietor after the death of his brothers, formed the D’Aguiar Bros. Limited. On the death of Dr. J. G D'Aguiar, his wife Ms. P. M. D'Aguiar became the principal shareholder. With the business on the brink of bankruptcy, an offer of $100,000 to purchase the entire business. Ms. D’Aguiar refused to sell convinced that Peter D’Aguiar her youngest son had the necessary attributes to save and revive the company.
In 1934 at age 22, Peter D’Aguiar was named Managing Director of D’Aguiar Bros. Limited and concentrated on the manufacturing of “soft drinks” and rum. Peter borrowed and invested heavily in the business and as profits rolled in, debts were repaid.
Highlights
- In 1942 D’Aguiar Bros. Limited acquired the franchise for Pepsi Cola and became the first South American nation to manufacture under the Pepsi brand.
- In 1952 the popular range of ICee flavors were introduced
- In 1955 Peter D’Aguiar developed Banks Breweries Limited
- In 1959 he expanded production of XM Rum and it made the number one rum
- In 1966 the Private Family Company (D'Aguiar Bros. Ltd.) was converted into a public company, D'Aguiar Bros. (D.I.H.) Limited with a share capital of $1.0 M (one million dollars).
- In 1969 saw the merger of D'Aguiar Bros. (DIH) Ltd. with Banks Breweries Ltd. into a new company called Banks DIH Limited with a Share Capital of G$4,140,000.00, and the company's headquarters was moved to Thirst Park where the production complex and the head office, known as the Rotunda, were built.
- On Thursday March 30, 1989 at 5:00 am, London local time, Peter S. D'Aguiar, age 76, died at the London Hospital, England. During his tenure of service (1934 – 1989) the company demonstrated a record of rapid development and continued progress and has emerged as one of the most dynamic, efficient and profitable businesses in the Caribbean.
- In 1989 after the death of Mr. Peter S. D'Aguiar, Mr. Clifford Barrington Reis, CCH, was appointed Chairman/Managing Director marking a new era in the company's history.
D”Aguiar Imperial House still stands today, nestled among the 1970s expanded Banks DIH Limited Demico House that is home to a guest house, restaurant and bar that encompasses the Water Street block from Brickdam to Croal St.
Banks DIH Limited a multi-billion dollar company remains as one of the oldest and most successful and financially sound companies in the Caribbean.
