Kraft Heinz begins new joint venture with plant-based start-up NotCo
Global food producer Kraft Heinz has announced the start of a new partnership with the Chilean dairy and meat alternative start-up NotCo. The two companies will develop and launch more sustainable plant-based foods together.
The joint venture called The Kraft Heinz Not Company LLC, will bring together NotCo’s digital solutions technology with Kraft Heinz’s extensive brand portfolio and its international reach.
By working together, both companies hope to create high-quality vegan versions of co-branded products that don’t sacrifice on taste, and help to increase the variety and availability of plant-based products on the market.
NotCo creates its plant-based products with the help of an AI technology system called Giuseppe, which is programmed to create plant-based versions of a range of traditionally animal-based food and drink.
CEO of Kraft Heinz, Miguel Patricio, said: “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.
“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 Kraft Heinz Not Company’s headquarters will be based in Chicago, and the research and development centre in San Francisco.
The new CEO of this partnership will be Lucho Lopez-May, who was formerly the CEO of the North American branch of NotCo.
CEO and co-founder of NotCo, Matias Muchnick commented: “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.
“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.”
NotCo has just been featured on the 2021 edition of the FoodTech 500 list of most promising start-ups.
The company has seen a lot of success in the past year, receiving investment from sportsmen like Formula One driver Lewis Hamilton and tennis player Roger Federer, who helped it reach Unicorn status. More plant-based start-ups are gaining interest from celebrities. Cultivated salmon start-up Wildtype, just raised $100M with the help from American actor Leonardo DiCaprio, Amazon-founder Jeff Bezos, and Iron Man star Robert Downey Jr.
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