Announcing the tie-up, Kraft Heinz said the venture is ‘designed to reimagine global food production’ and advance the food sector towards a ‘most sustainable’ future.
The new business will operate under the control of Kraft Heinz as The Kraft Heinz Not Company. It will leverage the ‘inherent strengths’ of both companies, the US-based CPG giant claimed.
NotCo brings its patent-protected ‘first-of-its-kind’ technology platform and artificial intelligence solutions, while Kraft Heinz offers its ‘iconic brand portfolio and scale’. Together, the JV will develop ‘superior’ plant-based versions of co-branded products at a level of speed, taste, quality, and scale ‘yet to be seen’ in the industry.
A spokesperson for Kraft Heinz confirmed that the new business unit has global ambitions. “The joint venture will have a global focus, with a phased rollout. We expect to share more details on markets and rollout plans in the months ahead,” we were told.
In partnering with NotCo, Kraft Heinz aims to leverage its manufacturing and commercial capabilities, with the scale of its global food brands, to ‘reshape the food landscape’ and ‘set a new standard’ for plant-based innovation.
‘Accelerating’ in plant-based
While demand for plant-based meat and dairy alternatives is booming, the companies noted that there are still barriers to update, citing issues around taste, variety and availability.
Utilizing technology and an agile approach to innovation, NotCo has developed plant-based replacements for animal products with simpler ingredients that it says don’t sacrifice taste, functionality, or consumption experience.
“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. “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.”
“When we started NotCo, it was our goal to make our technology a catalyser 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.”
The Kraft Heinz Not Company will be headquartered in Chicago with research and development facilities in San Francisco and will focus on plant-based innovation across numerous Kraft Heinz product categories.