NotCo, the Chilean food tech company, has sold its Brazilian business to local investment group Ferrara, three months after agreeing to transfer its operations in Argentina and Uruguay to Molinos Río de la Plata.
The deal further reduces the number of markets where NotCo runs its branded food business itself, with financial terms left undisclosed. Operating in Brazil for six years, NotCo saw its NotMilk brand become the second-largest national player in Brazil’s plant-based drinks category, according to co-founder and CEO Matías Muchnick.
Announcing the milestone on LinkedIn, NotCo stated: “This marks the beginning of a new stage that will accelerate the expansion and scale of NotCo’s brand”. The company added that the partnership will enhance distribution and local market synergies.
Meanwhile, Chilean business daily Diario Financiero reported that NotCo closed its Mexican operation around March 2026 due to poor results without finding a buyer, with the newspaper’s sources indicating that Chile is now the only food market NotCo manages directly. NotCo also licenses its Giuseppe artificial intelligence (AI) platform to food and beverage manufacturers for product development.
Source: Vegconomist / FoodBev
