The Chilean foodtech NotCo has announced a joint venture with Kraft Heinz to reimagine global food production. The joint venture will operate as The Kraft Heinz Not Company, and its executive director will be Matías Muchnick, NotCo’s current CEO.
This partnership will merge the strengths of both companies to accelerate the adoption of plant-based foods towards a more sustainable future. Kraft Heinz brings its scale and iconic brand portfolio, and the foodtech NotCo brings its patented AI solutions to develop superior plant-based products.
“The joint venture with TheNotCompany is a critical step in the transformation of our product portfolio and a tremendous addition to our brand design-to-value capabilities,” explained the CEO of Kraft Heinz, Miguel Patricio. “It helps deliver on our vision to offer more clean, green, and delicious products for consumers. We believe the technology that NotCo brings is revolutionizing the creation of delicious plant-based foods with simpler ingredients.”
The foodtech NotCo is one of three Chilean unicorns. The company created an algorithm called “Giuseppe” that can learn infinite combinations of plants to replicate the taste and texture of animal products. NotCo sells plant-based milk, burgers, meat, ice cream, mayonnaise, chicken, and more. The company is present in the US, Canada, Brazil, Argentina, Chile, Mexico, Peru, and Colombia. Its ultimate mission is to replace animal-based foods entirely without sacrificing taste, functionality, or consumption experience.
The Kraft Heinz Not Company will have its headquarters in Chicago, and its research and development facilities in San Francisco will focus on plant-based innovation for Kraft Heinz’s products. This partnership can bring the plant-based food industry to a whole new scale and reshape the food industry.
“This is an exciting milestone for the plant-based industry and shows the power that technology plays in driving widespread adoption,” said Matías Muchnick, Notco’s CEO.