The Kraft Heinz Company has announced a joint venture with food start-up TheNotCompany (NoCo), which aims to strengthen both companies’ plant-based portfolios.
Kraft Heinz is responsible for brands such as Heinz Ketchup, Philadelphia and Capri Sun.
The joint venture, which will operate under the control of Kraft Heinz as The Kraft Heinz Not Company LLC. Maker of plant-based meat and dairy products NotCo is expected to bring its technology-driven approach to the project.
Kraft Heinz said that the companies believe that working together, they can and will accelerate adoption of plant-based foods.
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.
“An exciting milestone”
Miguel Patricio, CEO of Kraft Heinz, 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.”
Matias Muchnick, co-founder and CEO of NotCo, said: “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.
“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.”
