Agustín Vales Castillo

Agustín Vales Castillo (1857 – 1938) was a Mexican businessman, banker, industrialist, landowner, philanthropist, and liberal politician who served as prefect of Mérida (jefe político) during the governorship of Olegario Molina. He emerged as a prominent figure during the heyday of the henequen industry in Yucatan due to his influence in business and political circles during the Porfiriato era.

During his tenure as the prefect of Mérida, between 1902 and 1908, Vales promoted various important public works for the city that were recognized nationally and internationally. During Porfirio Díaz's visit to Mérida, the president praised the impeccable and modern state of the city, considering it a suitable place for investment and economic growth. Furthermore, the glowing description of Mérida by British writers Frederick Frost and Channing Arnold supports the city's reputation at that time as a clean, modern, and prosperous place. While Vales is recognized for his contribution to Mérida's development, his government was also characterized by authoritarian and paternalistic actions.

During the Mexican Revolution, there was a shift in political power in Yucatán, and many elite families joined Maderism, led in the southeast by José María Pino Suárez, who was related to Vales by marriage. During that period, Vales aligned himself with Maderism and maintained close business relations with the Madero family. For example, in 1912, Vales partnered with Ernesto Madero Farías, uncle of President Francisco I. Madero, to establish the Compañía Harinera del Golfo, S.A., which became the main flour supplier in the Yucatán Peninsula.

Throughout the 20th century, the Vales family continued to position themselves as a prominent business dynasty in southeastern Mexico, with Agustín Vales Millet expanding the empire established by his father. Their ventures included the creation of The Yucatan Bank, the industrialization of Yucatecan plywood, a monopoly in the bottling and distribution of Coca-Cola, and the distribution of Volkswagen vehicles in the Yucatán Peninsula.