KHC - Kraft Heinz and TheNotCompany sign JV for accelerating AI-driven plant-based innovation

The Kraft Heinz (KHC +3.2%) and food tech start-up TheNotCompany announced a JV designed to reimagine global food production and advance toward a more sustainable future through wider adoption of plant-based foods. The venture which will operate under the control of Kraft Heinz as The Kraft Heinz Not Company will leverage the inherent strengths of both companies. NotCo brings its patented, first-of-its-kind technology and proven AI solutions, while Kraft Heinz offers its iconic brand portfolio and scale, to develop superior plant-based versions of co-branded products at a level of speed, taste, quality, and scale yet to be seen in the industry. The Kraft Heinz Not Company will be headquartered in Chicago with R&D facilities in San Francisco and will focus on plant-based innovation across numerous Kraft Heinz product categories.

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Kraft Heinz and TheNotCompany sign JV for accelerating AI-driven plant-based innovation