Multinational FMCG firm, The Kraft Heinz Company, has announced a joint venture with food tech start-up TheNotCompany in order to accelerate plant-based innovation globally.
According to Kraft Heinz, the partnership’s goal is to reimagine food production and move toward a more sustainable future.
By forming the partnership, the companies will be able to join forces to develop new plant-based co-branded versions of products, using TheNotCompany first-of-its-kind technology and artificial intelligence solutions and Kraft Heinz’s portfolio and scale to bring the new products at a ‘level of speed, taste, and quality yet to be seen in the industry’.
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. It helps deliver on our vision to offer more clean, green, and delicious products for consumers”.
Matias Muchnick, co-founder and CEO of TheNotCompany, commented: “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.
Source: Kraft Heinz