A joint venture between The Kraft Heinz Company and food tech startup TheNotCompany aims to use artificial intelligence to create plant-based versions of popular Kraft Heinz brands, including Oscar Mayer hot dogs.
“When we started NotCo, it was our goal to make our technology a catalyzer 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 TheNotCompany, a Chilean startup valued at $1.5 billion that has launched several plant-based dairy and meat products.
“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
The new venture, The Kraft Heinz Not Company, will be headquartered in Chicago. Research and Development facilities in San Francisco will focus on the development of plant-based versions across several Kraft Heinz product categories.
“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.
One of the products most likely to undergo a plant-based transformation is the Oscar Mayer hot dog. Kraft Heinz previously announced plans to revamp Oscar Mayer, one of Kraft Heinz’s best-known brands, following declining sales.
“Now we will have the advantage of bringing the products you love from the brands you trust also with a plant-based option,” Kraft Heinz U.S. President Carlos Abrams-Rivera said on CNBC’s “Squawk Box.”
“It’s thinking about whether you have Oscar Mayer hot dogs and Oscar Mayer ‘Not Hot Dogs,’” he added.
Lucho Lopez-May will transition from CEO, North America of NotCo to the CEO of the newly formed company. Previously, Lopez-May served as CEO of Garland Food and president of strategic growth channels at Danone North America.
The Kraft Heinz Co. is the fifth-largest food and beverage company in the world. The company slaughtered 315 pounds of live turkey in 2021, according to the WATTAgNet Top Companies Database.
