Molinos Río de la Plata to buy NotCo units in Argentina, Uruguay

Molinos Río de la Plata has agreed to get NotCo's plant-based nutrient and beverage businesses successful Argentina and Uruguay.

In a filing with the Argentina banal exchange, Molinos Río de la Plata said the summation of the NotCo assets represents "a wide accidental to proceed expanding the depletion occasions" it caters to and adds "innovation credentials based connected trends associated with a caller procreation of consumers".

Founded successful 2015, Chile-based NotCo develops plant-based products. Its website says the institution uses artificial quality to analyse plants and "come up with unsocial combinations that replicate animal-based products astir to perfection".

The institution has antecedently partnered with PepsiCo and Kraft Heinz to make plant-based products utilizing its AI technology, known arsenic Giuseppe

The Molinos Río de la Plata statement lone covers the NotCo branded concern successful Argentina and Uruguay.

Financial presumption were not disclosed. Molinos Río de la Plata said the transaction is taxable to customary closing conditions and regulatory approvals.

Victoria, Buenos Aires-headquartered Molinos Río de la Plata has a portfolio spanning products specified arsenic packaged frozen foods, pasta, java and wine.

Its brands see the pasta labels Matarazzo and Lucchetti, Gallo atom and Cocinero cooking oils.

The group, which is portion of the holding institution Grupo Perez Companc, besides sells Nieto Senetiner wines, Lira olive oils and vinegars, and Arlistan coffee.

In a LinkedIn post, NotCo laminitis Matias Muchnick presented the woody arsenic designation of the enactment done to physique the marque successful Argentina implicit the past six years.

In a abstracted LinkedIn post, NotCo said the transaction opens "a caller stage" for the marque successful some markets.

"Now, with the assistance of Molinos, NotCo begins a caller signifier to proceed with the bequest and heighten everything built successful these years, spell further and proceed improving people's lives done food," the institution said.

The acquisition is the latest determination by Molinos to grow via M&A.

In September 2024, Molinos Río de la Plata agreed to get a radical of frozen-pizza assets successful Argentina from US-headquartered McCain Foods.

At the time, the institution said it would bargain the Sibarita frozen-pizza marque and a manufacturing installation successful Pilar, located successful Buenos Aires province.

Just Food has approached NotCo for details connected the operation of its remaining businesses.

"Molinos Río de la Plata to bargain NotCo units successful Argentina, Uruguay" was primitively created and published by Just Food, a GlobalData owned brand.