The company was founded around 1830 in the Venezuelan town of Angostura (now Ciudad Bolívar) by a German doctor, Johann Gottlieb Benjamin Siegert, Surgeon-General in Simon Bolivar's army in Venezuela.

Upon his death in 1870, Siegert left the care of the company to his younger brother and son, who subsequently moved it to Port of Spain, Trinidad six years later in 1876.

In December 2016, questions arose regarding the integrity of Angostura rum, with CEO Robert Wong sent on administrative leave for two months.

Reports say Angostura breached EU rules of origin laws by purchasing bulk rum and repackaging it, without making any substantial changes.

[3] The company observed its 200th anniversary in 2024, as the government of Trinidad and Tobago reported that bitters represented 8% of the market value of exports in the food and beverage sector.