The Not Company (NotCo) and The Kraft Heinz Company have formed a joint venture that seeks to leverage NotCo’s patented, first-of-its-kind artificial intelligence technology to create plant-based food alternatives within Kraft Heinz’s brand portfolio.
NotCo is the fastest-growing food tech company in Latin America and one of the region’s startup unicorns, with a recent valuation of $1.5 billion. NotCo has previously launched products in the United States, Canada, Brazil, Argentina, Chile, Mexico, Peru and Colombia. The joint venture will develop and commercialize plant-based products outside of Latin America across several key product segments.
The S&C team advising NotCo includes Werner Ahlers, Mehdi Ansari, Rachel Yu, Willem Liedenbaum and Elizabeth Cheung. Davis Wang and John Jo are advising on tax matters. Jeannette Bander is advising on executive compensation and benefits matters. Rob Schlein is advising on real estate matters. Andrew Finn is advising on arbitration-related matters. Courtland Morrice assisted on financing matters.