The Kraft Heinz has now formed a joint venture with the NotCo, a food technology start-up company for the purpose of creating a joint venture that has been developing the co-branded products based on the plants across the multiple categories.
The joint venture company is going to be operating under the control of the Kraft Heinz and it is going to be based in the region of Chicago along with research and development facilities in the region of San Francisco, and it is going to be leading by Lucho Lopez-May, chief executive officer of NotCo for the region of North America.
The plan has been to combine the patented technology and expertise of NotCo in the formulation based on the plants, and with the iconic co-branded products of the Kraft Heinz at a level of the taste, speed, quality and scale that is yet to be seen in the industry.
Miguel Patricio, chief executive officer of Kraft Heinz said that, the company believes that, the technology which has been brought by the NotCo has been revolutionizing the creation of the delicious foods based on the plants along with more simpler ingredients.
Miguel Patricio also said that, the joint venture with the company has been a critical in the transformation of the product portfolio of the company and it is also going to be an addition to the capabilities of the brand design-to-value of the company.