CHICAGO — The Kraft Heinz Co. is teaming up with TheNotCompany Inc., a maker of meat and dairy alternate options, for a three way partnership centered on plant-based innovation.
The three way partnership will function beneath the management of Kraft Heinz as The Kraft Heinz Not Co. LLC. It can mix NotCo’s patented technology and artificial intelligence options with Kraft Heinz’s portfolio and scale to develop plant-based variations of co-branded merchandise.
Whereas curiosity in plant-based meals is surging, obstacles stay round style, selection and availability, based on the businesses. NotCo is making progress on these challenges by creating plant-based replacements for animal merchandise with less complicated components that don’t sacrifice style, performance or consumption expertise.
Led by founder and chief govt officer Matias Muchnick, the Chilean firm developed a expertise platform that makes use of synthetic intelligence and machine studying algorithms to reverse engineer animal merchandise and recreate them with vegetation. It has launched merchandise together with NotMilk, NotBurger, NotMeat, NotIceCream, NotChicken and NotMayo in america, Canada, Brazil, Argentina, Chile, Mexico, Peru and Colombia.
NotCo is one in all Latin America’s fastest-growing meals expertise startups, attaining unicorn standing at a valuation of $1.5 billion in lower than 5 years.
“After we began NotCo, it was our aim to make our expertise a catalyzer for a extra sustainable meals system not just for us, however for different manufacturers and producers who share the identical ambition,” Mr. Muchnick stated. “At the moment is an thrilling milestone for the plant-based business and exhibits the facility of expertise’s function in driving mainstream adoption. We’re thrilled to companion with Kraft Heinz and their iconic manufacturers and work hand-in-hand on constructing a extra sustainable meals system.”
Headquartered in Chicago with analysis and improvement services in San Francisco, The Kraft Heinz Not Co. will concentrate on plant-based innovation throughout a number of Kraft Heinz product classes. Lucho Lopez-Could, who at the moment is CEO of NotCo’s North American enterprise, will turn out to be CEO of the brand new three way partnership. Mr. Lopez-Could beforehand was CEO of Garland Meals and president of strategic progress channels at Danone North America.
“The three way partnership with TheNotCompany is a important step within the transformation of our product portfolio and an incredible addition to our model design-to-value capabilities,” stated Miguel Patricio, CEO of The Kraft Heinz Co. “It helps ship on our imaginative and prescient to supply extra clear, inexperienced, and scrumptious merchandise for shoppers. We consider the expertise that NotCo brings is revolutionizing the creation of scrumptious plant-based meals with less complicated components.”