HomeFoodKraft Heinz, NotCo team up for plant-based joint venture

Kraft Heinz, NotCo team up for plant-based joint venture

CHICAGO — The Kraft Heinz Co. is teaming up with TheNotCompany Inc., a maker of meat and dairy alternate options, for a joint venture targeted on plant-based innovation.

The joint venture will function beneath the management of Kraft Heinz as The Kraft Heinz Not Co. LLC. It will mix NotCo’s patented know-how and synthetic intelligence options with Kraft Heinz’s portfolio and scale to develop plant-based variations of co-branded merchandise.

While curiosity in plant-based meals is surging, obstacles stay round style, selection and availability, in keeping with the businesses. NotCo is making progress on these challenges by creating plant-based replacements for animal merchandise with less complicated elements that don’t sacrifice style, performance or consumption expertise.

Led by founder and chief government officer Matias Muchnick, the Chilean firm developed a know-how platform that makes use of synthetic intelligence and machine studying algorithms to reverse engineer animal merchandise and recreate them with crops. It has launched merchandise together with NotMilk, NotBurger, NotMeat, NotIceCream, NotRooster and NotMayo within the United States, Canada, Brazil, Argentina, Chile, Mexico, Peru and Colombia.

NotCo is one in all Latin America’s fastest-growing meals know-how startups, attaining unicorn standing at a valuation of $1.5 billion in lower than 5 years.

“When we started NotCo, it was our goal to make our technology a catalyzer for a more sustainable food system not only for us, but for other brands and manufacturers who share the same ambition,” Mr. Muchnick stated. “Today is an exciting milestone for the plant-based industry and shows the power of technology’s role in driving mainstream adoption. We’re thrilled to partner with Kraft Heinz and their iconic brands and work hand-in-hand on building a more sustainable food system.”

Headquartered in Chicago with analysis and growth amenities in San Francisco, The Kraft Heinz Not Co. will concentrate on plant-based innovation throughout a number of Kraft Heinz product classes. Lucho Lopez-May, who presently is CEO of NotCo’s North American enterprise, will change into CEO of the brand new joint venture. Mr. Lopez-May beforehand was CEO of Garland Food and president of strategic development channels at Danone North America.

“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,” stated Miguel Patricio, CEO of The Kraft Heinz Co. “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.”

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