The British-American Tobacco Company Limited itself was formed and registered in London on September 29, 1902 to acquire the “recipes, trademarks and export business of the Imperial Tobacco Groups Limited and of the American Tobacco Company” and “to own and operate their overseas subsidiaries outside the United States of America.” Its first chairman was the legendary James Buschanan Duke.

A major development took place shortly afterwards when the BAT Company decided to install a cigarette manufacturing unit in a wooden building adjacent to the Water Street Office and stockroom. This manufacturing unit was opened on June 14th, 1934 and on the same day the Demerara Tobacco Company Limited (Demtoco) was formed to replace the British-American Tobacco Company Limited (Demerara Depot).