Ready to amplify the plant-based portfolio under Kraft Heinz: Miguel Patricio, CEO of Kraft Heinz (L) and Matias Muchnick, co-founder and CEO of NotCo (R).
A legacy brand and a food tech startup are pooling their talent on a new sustainability initiative that leverages their respective strengths and insights. The venture from The Kraft Heinz Company and TheNotCompany Inc. (NotCo) will be known as The Kraft Heinz Not Company LLC and will use AI solutions to develop plant-based versions of co-branded products that meet consumers’ discerning tastes and interests.
The project is borne from both companies’ commitment to quickly expand the market for plant-based foods as a way to reduce individual and collective carbon footprints and satisfy consumers’ changing palates. With headquarters in Chicago and R&D facilities in San Francisco, the Kraft Heinz Not Company will focus on creating plant-based innovations across several Kraft Heinz product categories.
The move is a significant one for the venerable CPG. “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.”
Matias Muchnick, co-founder and CEO of NotCo., said that his company’s goal is to make technology that accelerates the adoption of a more sustainable food system. “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,” he remarked. Among other offerings, NotCo has rolled out products such as NotMilk, NotBurger, NotMeat, NotIceCream, NotChicken and NotMayo in the United States.
The newly-formed group has tapped Lucho Lopez-May, most recently CEO, North America of NotCo, to lead The Kraft Heinz Not Company as its inaugural CEO.