APU Company
APU Company is a Mongolian beverage manufacturer and brewer with businesses spanning vodka, beer, dairy products, soft drinks, bottled water, fruit juice, and other beverages.
Last updated August 31, 2026
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Overview
APU Company, also known simply as APU, is a Mongolian beverage producer headquartered in Ulaanbaatar. Its historical name derives from the Mongolian initials for vodka, beer, and drinks, while the company has also marketed the abbreviation as standing for “Absolute, Pure, Unique.” APU is regarded as Mongolia’s oldest company and is one of the country’s largest producers of alcoholic and non-alcoholic beverages. The company traces its industrial origins to 1924, when Mongolia’s first vodka distillery opened in Ulaanbaatar with a staff of 14. The early operation followed a state policy granting the treasury authority over the production of alcohol. In 1927, with assistance from Czech specialists, Mongolia’s first national brewery began production. Its early beer included the Borgio brand. These facilities formed the historical foundation of the enterprise that later became APU. APU’s business expanded considerably after Mongolia began its transition to a market economy in 1992. The former state-owned enterprise became one of the first Mongolian industrial companies to be privatized and listed on the Mongolian Stock Exchange. Full privatization was completed in 2001, when 51 percent of the state-owned company’s shares were sold through the exchange. The change in ownership supported investment in production capacity, modernization, and the development of a broader consumer portfolio. The company modernized its brewery in 2003 and its vodka, water, and soft-drink facilities in 2004. A milk, fruit-juice, and Tetra Pak packaging plant opened in 2006, followed by a spirits distillery operated by Nature Agro LLC in 2008. Dairy became a more substantial part of the business after a dairy production facility was established in 2014 and APU Dairy LLC was incorporated on September 22, 2017. APU’s portfolio includes approximately 35 brands across dairy products, soft drinks, beer, vodka, and other alcoholic beverages. Its best-known spirits brands include Chinggis Khan, Soyombo, and Eden vodkas. The company also produces beer, carbonated beverages, bottled water, milk, fruit juice, and packaged dairy products for different segments of the Mongolian market. Its products are exported or sold through distribution channels serving China, Hong Kong, South Korea, Russia, parts of Europe, and the United States. Production is concentrated in Ulaanbaatar. The company’s operating structure includes APU Trading LLC, which acts as the exclusive product distributor; Depod LLC, which is associated with bottle recycling; Nature Agro LLC, which operates in spirits; and APU Dairy LLC, which focuses on dairy manufacturing. APU is therefore both a consumer-facing brand portfolio and a vertically organized manufacturing and distribution group. APU remains listed on the Mongolian Stock Exchange under the symbol APU. In 2017, the company’s share issuance reached 321,304,553 ordinary shares, and Heineken Asia Pacific Pte. Ltd. acquired a 25 percent holding. The company’s historical development reflects Mongolia’s shift from state-owned industrial production to a privatized, publicly traded consumer-goods enterprise, while its current positioning rests on domestic scale, manufacturing breadth, and a combination of traditional Mongolian beverage brands with modern packaged-food and beverage production.
History
APU’s origins lie in the formation of Mongolia’s early state beverage industry. In 1924, the country’s first vodka distillery opened in Ulaanbaatar with 14 employees. Its creation followed a government decision giving the state treasury exclusive authority over alcohol production. The facility established the industrial basis for the company’s later spirits business and helped create a formal national production system for vodka. Three years later, in 1927, Mongolia’s first national brewery began operating with technical assistance from Czech experts. The brewery produced Borgio beer, one of the earliest named products associated with the country’s modern brewing industry. Vodka and beer production subsequently developed as related parts of a state-controlled beverage enterprise. The initials later associated with APU came from the Mongolian words for vodka, beer, and drinks. In later brand communication, APU was also interpreted in English as “Absolute, Pure, Unique.” The company’s institutional history changed during Mongolia’s economic transition in the early 1990s. When the country moved toward a free-market economy in 1992, the former state-owned enterprise became one of the first industrial organizations selected for privatization. It was also listed on the Mongolian Stock Exchange, giving the business access to public equity markets and creating a new ownership structure. Full privatization was completed in November 2001 through the sale of 51 percent of the state-owned company’s stock. The resulting private and public-company structure enabled APU to pursue modernization and capacity expansion more actively. During the first decade after privatization, APU invested in the renewal of its principal production facilities. The brewery was modernized in 2003, while the vodka plant and the water and soft-drinks plant were modernized in 2004. A milk, fruit-juice, and Tetra Pak packaging facility opened in 2006, adding packaged food and beverage capabilities to the company’s established alcohol operations. In 2008, the Nature Agro LLC division opened a spirits distillery, strengthening APU’s ability to produce distilled beverages within its own operating group. Dairy became an important area of diversification in the following decade. A dairy production facility was established in 2014, and APU Dairy LLC was founded on September 22, 2017. This expansion helped shift APU from being principally identified with vodka and beer toward a wider consumer-staples portfolio that included milk, dairy products, juices, carbonated drinks, bottled water, and other packaged beverages. APU’s current manufacturing network is concentrated in Ulaanbaatar and includes facilities for beer, vodka, spirits, water, soft drinks, milk, fruit juice, and packaged products. The group’s related companies support distribution, recycling, and specialized production. APU Trading LLC serves as the exclusive distributor of the company’s products, Depod LLC operates in bottle recycling, Nature Agro LLC is associated with spirits production, and APU Dairy LLC manages the dairy business. The company’s consumer portfolio is reported to contain about 35 brands spanning dairy, soft drinks, beer, vodka, and other alcoholic beverages. Chinggis Khan, Soyombo, and Eden are among its recognized vodka brands, while Borgio represents its historical brewing heritage. APU sells products throughout Mongolia and has developed overseas markets in China, Hong Kong, South Korea, Russia, Europe, and the United States. APU’s later corporate development included a strategic shareholding by Heineken Asia Pacific Pte. Ltd. In 2017, after APU’s share issuance reached 321,304,553 ordinary shares, Heineken Asia Pacific acquired 25 percent of the total shares. APU continues to trade on the Mongolian Stock Exchange under the symbol APU. Its evolution from a small state-era distillery and brewery into a diversified, publicly listed beverage group mirrors the broader modernization and privatization of Mongolian industry.
- 2017
APU Dairy LLC founded
[1]APU Dairy LLC was founded on September 22, 2017, formalizing the company’s dairy business.
- 2017
Heineken Asia Pacific became a significant shareholder
[1]After a share issuance, Heineken Asia Pacific Pte. Ltd. acquired 25 percent of APU’s total shares.
- 2014
Dairy production facility established
[1]APU established a dairy production facility as part of its diversification beyond alcoholic beverages.
- 2008
Nature Agro spirits distillery opened
[1]The Nature Agro division opened a spirits distillery, adding specialized distilling capacity to the group.
- 2006
Milk, juice, and Tetra Pak facility opened
[1]APU opened a facility for milk, fruit juice, and Tetra Pak packaging, extending its non-alcoholic beverage capabilities.
- 2004
Vodka, water, and soft-drinks facilities modernized
[1]The company modernized its vodka plant and its water and soft-drinks production facilities.
- 2003
Brewery modernization
[1]APU modernized its brewery as part of a broader post-privatization investment program.
- 2001
Full privatization completed
[1]The company completed full privatization after 51 percent of the state-owned shares were sold through the Mongolian Stock Exchange.
- 1992
Transition to a market economy began
[1]APU emerged from the former state-owned industrial system as Mongolia began its transition toward a free-market economy and privatization.
- 1927
First national brewery began production
[1]With assistance from Czech experts, Mongolia’s first national brewery began producing beer, including the Borgio brand.
Products and positioning
A broad-based Mongolian beverage manufacturer combining nationally established vodka and beer brands with dairy, soft-drink, bottled-water, and juice products. APU serves multiple price and consumption segments in Mongolia while also exporting selected products to international markets.
Vodka
Chinggis Khan
Chinggis Khan is one of APU’s principal vodka brands. It draws on a prominent Mongolian historical and cultural reference and forms part of the company’s spirits portfolio for the domestic market and selected export markets.
Vodka
Soyombo
Soyombo is an APU vodka brand named after the Soyombo symbol associated with Mongolia. It is positioned within the company’s range of nationally oriented vodka products serving different local consumer segments.
Vodka
Eden
Eden is one of APU’s named vodka brands. It sits alongside Chinggis Khan and Soyombo in the company’s spirits portfolio, which covers multiple segments of the Mongolian alcoholic-beverage market.
Beer · 1927
Borgio
Borgio is associated with the early history of Mongolian brewing and was produced by the national brewery established in 1927 with Czech technical assistance. It represents APU’s historic beer-making heritage.
Dairy · 2014
APU dairy products
APU’s dairy range includes milk and other packaged dairy products produced through the company’s dairy operations. The category became a formal growth area after the establishment of a dairy facility in 2014 and APU Dairy LLC in 2017.
Non-alcoholic beverages
APU soft drinks and bottled water
APU produces carbonated soft drinks and bottled water for the Mongolian market. These operations are part of the company’s non-alcoholic beverage platform, whose facilities were modernized in 2004.
Fruit juice · 2006
APU fruit juice
Fruit juice is included in APU’s packaged beverage portfolio. Production is linked to the milk, fruit-juice, and Tetra Pak packaging facility opened in 2006.
Brand decisions
2017
Issued shares associated with Heineken Asia Pacific investmentM&ABackground
APU expanded its share capital during a period of corporate and portfolio development.
Action taken
The company’s issuance reached 321,304,553 ordinary shares, enabling Heineken Asia Pacific Pte. Ltd. to hold 25 percent of the total shares.
Aftermath
Heineken Asia Pacific became a significant strategic shareholder while APU remained listed on the Mongolian Stock Exchange.
Ordinary shares issued. 321,304,553 (2017)
2014
Diversified into dairy manufacturingStrategyBackground
APU had historically been identified mainly with vodka, beer, and other beverages, but its manufacturing platform already included non-alcoholic drinks and packaged juice.
Action taken
The company established a dairy production facility in 2014 and later incorporated APU Dairy LLC.
Aftermath
Dairy became part of APU’s wider consumer-staples portfolio alongside alcoholic drinks, soft drinks, water, and juice.
2001
Completed privatization and continued public-market operationStrategyBackground
APU was one of the first Mongolian industrial enterprises to undergo privatization after the country began its market transition. The state retained ownership until a 51 percent share sale through the Mongolian Stock Exchange.
Action taken
The company completed full privatization in November 2001 while continuing as a publicly traded company under the symbol APU.
Aftermath
The change in ownership supported modernization of production facilities and subsequent expansion into broader beverage and dairy categories.
Recent events
- 2017
APU Dairy LLC was established[1]
Other
APU incorporated APU Dairy LLC on September 22, 2017, formalizing its dairy business within the wider company structure.
- 2017
Heineken Asia Pacific acquired a 25 percent stake in APU[1]
M&A
Following a share issuance totaling 321,304,553 ordinary shares, Heineken Asia Pacific Pte. Ltd. obtained 25 percent of APU’s total shares.
- 2014
APU expanded into dairy production[1]
Product launch
APU established a dairy production facility, broadening its manufacturing base beyond alcoholic beverages, beer, soft drinks, and bottled water.
- 2001
APU completed full privatization and became a publicly traded Mongolian company[1]
M&A · Other
The former state-owned beverage enterprise completed its privatization after 51 percent of the state-held shares were sold through the Mongolian Stock Exchange. The transaction marked a major change in ownership and governance for the company.
Sources1 sources
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