Molinos Río de la Plata has agreed to acquire NotCo’s plant-based food and beverage businesses in Argentina and Uruguay.
In a filing, the Argentine food company said the addition of NotCo represents “a clear opportunity to continue expanding the consumption occasions” it caters to, while adding “innovation credentials based on trends associated with a new generation of consumers”.
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Victoria, Buenos Aires-headquartered Molinos Río de la Plata has a portfolio spanning products such as packaged frozen foods, pasta, coffee and wine.
Its brands include the pasta labels Matarazzo and Lucchetti, Gallo rice and Cocinero cooking oils.
The group, which is part of the holding company Grupo Perez Companc, also sells Nieto Senetiner wines, Lira olive oils and vinegars, and Arlistan coffee.
Founded in 2015, NotCo develops plant-based products. 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”.
The company has previously partnered with PepsiCo and Kraft Heinz, in 2025 and 2022 respectively, to develop plant-based products using its AI technology, known as Giuseppe
The Molinos Río de la Plata agreement only covers the NotCo branded business in Argentina and Uruguay.
Financial terms were not disclosed. Molinos Río de la Plata said the transaction is subject to customary closing conditions and regulatory approvals.
In a LinkedIn post, NotCo founder Matias Muchnick presented the deal as recognition of the work done to build the brand in Argentina over the past six years.
In a separate LinkedIn post, NotCo said the transaction opens “a new stage” for the brand in both markets.
“Now, with the help of Molinos, NotCo begins a new stage to continue with the legacy and enhance everything built in these years, go further and continue improving people’s lives through food,” the company said.
The acquisition is the latest move by Molinos to expand its food portfolio.
In September 2024, Molinos Río de la Plata agreed to acquire a group of frozen-pizza assets in Argentina from US-headquartered McCain Foods.
At the time, the company said it would buy the Sibarita frozen-pizza brand and a manufacturing facility in Pilar, located in Buenos Aires province.
