 UFC Group was founded in 1942 under the name "Idesh tejeeliin kombinat" (Идэш тэжээлийн комбинат, literally "foodstuffs combine") as a state-owned enterprise of the Mongolian People's Republic, located in Uvs Province.It remained in government hands until 1997, when it was bought out by private owners and renamed "Uvs hüns" (Увс хүнс, literally "Uvs foods").As it expanded its businesses it began using its present name UFC Group in 2006.