The Kraft Heinz Company and TheNotCompany, Inc. announce new joint venture The Kraft Heinz Not Company, which will be centered in Chicago.
The Kraft Heinz Not Company LLC will operate under Kraft Heinz and combine NotCo’s patented AI-driven food technology with Kraft Heinz’s iconic brands and powerful scaling capabilities. The two companies say they will work together to develop premium, co-branded plant-based products with an unprecedented focus on speed, quality and scale.
According to a statement, the collaboration is the result of both companies’ desire to improve the world by accelerating the adoption of plant-based foods. As part of its mission, Kraft Heinz Not Company will utilize cutting-edge technology to help resolve prevailing barriers for plant-based foods, including taste, variety and availability.
The new company will operate San Francisco research and development facilities, and focus on innovating multiple Kraft Heinz product categories.
“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,” said Miguel Patricio, CEO of Kraft Heinz. “We believe the technology that NotCo brings is revolutionizing the creation of delicious plant-based foods with simpler ingredients.”
Despite the announcement, NotCo reveals the startup will remain an independent company. According to a statement, “NotCo is still NotCo. Kraft Heinz is still Kraft Heinz. This new joint venture will be boosted by the power of both brands…It’s NOT your average joint venture.”
The announcement marks a stunning milestone for the brand, the Chile-based phenomenon that pioneered the use of artificial intelligence to produce plant-based meat, dairy and egg products.
As the fastest growing Latin American food tech company, NotCo secured $235 million in Series D funding last year, earning the startup full unicorn status. In 2021, the company was also awarded a US patent for its proprietary AI platform.
Driving mainstream adoption
“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,” said Matias Muchnick, co-founder and CEO of NotCo. “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.”