Who owns Artsakh?
Artsakh is owned by Multi Group (Armenia).[1]
This ownership is reported in official statements but has not yet been matched to a regulatory filing.
Evidence: "Multi Group" Concern — Companies. Last checked .
Key facts
- Current owner
- "Multi Group" Concern reported
- Owner HQ
- 🇦🇲 Armenia, Yerevan
- Origin
- 🇦🇲 Armenia
- Founded
- 1995
- Category
- Beverages › Beer › Lager
- Last verified
- · 1 sources
About Artsakh
Artsakh is the second beer created at Multi Group's Kotayk Brewery during the mid-1990s reorganisation, launched alongside the Kotayk brand itself. It is brewed at the same Abovyan plant, on the Czech equipment installed there, using the Katnaghbyur spring water the site was chosen for and a combination of local and imported raw materials, with quality controlled in the brewery's own laboratory. In 1996 the brewery formed a joint venture with the French group Castel, internationally known as a brewer particularly in Africa; Tsarukyan bought the company out entirely in 2011.
Ownership timeline of Artsakh
- Current owner Multi Group [1] reported
Where Artsakh sits in Multi Group
Controlling ownership as of . Brands grouped under the entity that owns them; large groups are collapsed.
Open the full Multi Group ownership tree →
See the full Multi Group brand portfolio (6) →
Other brands owned by Multi Group
Multi Group controls 6 brands on Brandtree, 5 of them in beverages.
Also in beverages
- Gorna Bania
- Kotayk (1995)
- Noy
- Serdika
Other brands in lager, and who owns them
The 200 brands in lager on Brandtree belong to 55 owners. The largest is AB InBev, with 17; Multi Group has 2.
About the owner: Multi Group
Multi Group is a privately held company headquartered in Yerevan, Armenia, founded in 1995. Brandtree records 6 brands under its control.
Multi Group Concern is an Armenian conglomerate founded by Gagik Tsarukyan, whose constituent meeting took place on 9 November 1995 and which now runs more than thirty enterprises from an office on Tsovakal Isakov Street in Yerevan. It was assembled largely out of Soviet-era industrial plants taken on at or after privatisation and restarted — the Abovyan brewery, the Yerevan Ararat brandy, wine and vodka factory, the Yerevan chemical-pharmaceutical firm, the Ararat cement works — and extended into businesses that had not existed in Armenia before, including a mineral water bottler in Bulgaria, a resort hotel in Tsaghkadzor, an urban wellness complex, a wholesale mall at Arinj and vehicle dealerships. Its consumer brands sit mostly in drinks: beer, brandy and bottled water. Much of the rest of the group is industrial, service or dealership business that carries no brand of its own.
🇦🇲 Artsakh and other Armenian brands
Brandtree records a controlling owner for 8 brands that began in Armenia. 2 of them (25%) are now controlled by a company headquartered in another country; Artsakh is not one of them.
- Ameriabank — Lion Finance Group 🇬🇪
- Armenia Airways — Armenia Airways 🇦🇲
- FLYONE ARMENIA — FLYONE ARMENIA 🇦🇲
- Zvartnots International Airport — Corporación América Airports 🇱🇺
Frequently asked questions
Who is the parent company of Artsakh?
The parent company of Artsakh is Multi Group, a privately held company headquartered in Armenia.
Is Artsakh Armenian?
Yes. Artsakh originated in Armenia in 1995 and its owner, Multi Group, is also headquartered in Armenia.
Is Artsakh still owned by Multi Group?
Yes. As of 20 September 2026, Artsakh is still owned by Multi Group. The ownership record was last checked against primary sources on that date.
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] "Multi Group" Concern — Companies — "Multi Group" Concern, Official document; retrieved 20 September 2026.
Report a correction Opens a pre-filled GitHub issue. See our corrections policy.