Molinos Río de la Plata, Argentina's largest branded food company, has finalized a deal to acquire NotCo's plant-based business in Argentina and Uruguay. NotCo, a Chilean AI-led plant-based food firm, is shifting its focus from a consumer-facing business to a B2B tech licensing platform. This acquisition by Molinos Río de la Plata is part of the food processor's strategy to diversify and attract younger consumers by venturing into new categories.

NotCo's innovative approach, utilizing AI to develop plant-based alternatives that mimic the taste and functionality of animal proteins, has garnered attention and investments, resulting in unicorn status. The company's pivot towards a tech company, as evidenced by collaborations with major food companies, aligns with the current trend in the alternative protein industry. This acquisition will allow Molinos Río de la Plata to expand its presence in the plant-based food and functional nutrition category, leveraging NotCo's products and technology to meet evolving consumer preferences.