Following the restoration of state independence, Azerbaijan set out on a path towards a market economy. The adoption of a law on entrepreneurship led to the emergence of numerous small- and medium-sized enterprises. By the late 1990s and early 2000s, several “hidden champion” companies began to thrive in the country’s economy. Today, dozens of these “hidden champions” operate across various industries in the republic. This research focuses on the production, processing, and export of hazelnuts. According to the International Nut and Dried Fruit Council (INC), Azerbaijan ranks third globally in hazelnut exports, both in kernels and in shells. Over the past five years, the country has consistently remained among the top three exporters, maintaining a 5% share in both kernel and in shell hazelnut exports. Within this industry, several companies can be classified as “hidden champions.” Our specific focus is on Azerstar LLC, a company that has been operating since 2006 and supplies its products to European markets.