Molinos Río de la Plata Acquires Plant-Based Food Innovator NotCo

Molinos Río de la Plata, Argentina's largest food company, has announced the acquisition of NotCo, a leading innovator in plant-based foods. This strategic move allows Molinos to expand its presence in the emerging plant-based food segment, with operations included in Argentina and Uruguay. The acquisition is subject to approval by relevant authorities.

Founded in 2015 by Matías Muchnick, NotCo has gained recognition for developing plant-based alternatives to traditionally animal-based products such as beverages, mayonnaise, ice cream, burgers, and protein bars. The company employs artificial intelligence through an algorithm named Giuseppe to create products that mimic the taste and texture of conventional foods without using animal proteins.

NotCo's innovation and connection with younger, urban consumers have earned it a strong market presence. The acquisition will enhance Molinos' participation in consumption occasions previously dominated by animal-based products and strengthen its position in the frozen food sector, where NotCo has been expanding its competitive offerings.

Over its trajectory, NotCo has attracted over $425 million in investments, reaching a market valuation exceeding $1.5 billion. Notable investors include Jeff Bezos, Roger Federer, Tiger Global, L Catterton, and Kaszek Ventures. According to the operation's data, NotCo experienced a 300% growth in 2025, with estimated annual revenues of $75 million.

For Molinos, integrating NotCo represents a commitment to innovation and portfolio diversification, reflecting the growing interest of major companies in plant-based categories and technologies. Although the deal is focused on Argentina and Uruguay, it underscores the importance of monitoring investment trends and positioning strategies by large industries, particularly in segments competing with traditional animal-based products.