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

Summary

Argentina's Molinos Río de la Plata agreed to acquire the plant-based food and beverage businesses of Chile-based NotCo in Argentina and Uruguay, expanding the consumption occasions it serves and adding AI-driven innovation credentials from NotCo's Giuseppe technology, in the latest M&A move by the Grupo Perez Companc-owned food group.

Market Impact

The acquisition gives Molinos access to NotCo's AI-powered plant-based product development—technology NotCo previously deployed in partnerships with PepsiCo and Kraft Heinz—broadening Molinos's portfolio toward next-generation consumer trends. The deal, covering only the NotCo branded business in Argentina and Uruguay, reflects how regional food majors are acquiring innovation capabilities and brands to capture younger consumers, while NotCo monetizes regional operations to focus its remaining business. Molinos, headquartered in Buenos Aires with brands spanning frozen foods, pasta, coffee, and wine, continues an M&A expansion strategy that included acquiring McCain Foods' Sibarita frozen-pizza assets in Argentina in September 2024.

Why It Matters

Molinos's acquisition of NotCo's regional plant-based business illustrates how Latin American food majors are buying AI-enabled innovation and brands to capture next-generation consumer trends while plant-based startups consolidate around core markets.

Key Points

• Molinos Río de la Plata agreed to acquire NotCo's plant-based food and beverage businesses in Argentina and Uruguay; financial terms were undisclosed and the deal is subject to regulatory approval
• The acquisition adds innovation credentials from NotCo's AI technology, Giuseppe, which analyzes plants to replicate animal-based products and was previously used in partnerships with PepsiCo and Kraft Heinz
• The deal covers only the NotCo branded business in the two markets; Molinos said it represents an opportunity to expand the consumption occasions it caters to
• Buenos Aires-headquartered Molinos, part of Grupo Perez Companc, has brands spanning frozen foods, pasta, coffee, and wine, and previously acquired McCain Foods' Sibarita frozen-pizza assets in September 2024

Key Entities

Evidence

Molinos Río de la Plata has agreed to acquire NotCo's plant-based food and beverage businesses in Argentina and Uruguay.

Supports: Confirms the acquisition and the markets covered

Its website says the company uses artificial intelligence to analyse plants and "come up with unique combinations that replicate animal-based products almost to perfection".

Supports: Documents NotCo's AI-driven product development capability being acquired

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

Supports: Grounds Molinos's ongoing M&A expansion strategy