Argentine food conglomerate Molinos Río de la Plata has agreed to acquire NotCo’s plant-based food and beverage operations in Argentina and Uruguay.
The deal covers the NotCo-branded business in both markets only. Financial terms were not disclosed, and the transaction remains subject to customary closing conditions and regulatory approvals, with final implementation expected within the coming weeks.
Six years from a garage to a national brand
In a filing with the Argentina stock exchange, Molinos described the acquisition as “a clear opportunity to continue expanding the consumption occasions” it serves, adding new categories linked to emerging food trends, including plant-based foods, beverages, and functional nutrition. The deal also extends the company’s presence in the frozen food segment, where NotCo had built a competitive position.
NotCo launched its Argentina operations six years ago out of a garage in Vicente López, Buenos Aires, building distribution across the country from there. In a LinkedIn post, Muchnick reflected on those early days, recalling a group of people who “with much more conviction than rational argument, felt we could change the direction of mass consumption in an entire country, with everything and against everything.”
“Today, Molinos Río de la Plata, with 120 years of history and the most beloved brands in Argentina, agrees to acquire NotCo in Argentina and Uruguay. For NotCo, this is tremendous proof that the path was, and more than ever is, the right one,” he wrote.
Molinos continues acquisition push
Molinos Río de la Plata, headquartered in Victoria, Buenos Aires, and majority-owned by the Pérez Companc family, operates across pasta, rice, frozen foods, oils, wine, and coffee, with brands including Matarazzo, Lucchetti, Gallo, and Cocinero.
Agustín Llanos, CEO of Molinos, said: “The acquisition of NotCo Foods represents an opportunity to further strengthen our innovation capabilities and keep pace with evolving consumer preferences. We value NotCo’s ability to build a relevant brand that resonates with new generations and is associated with new ways of eating.”
In a separate post, NotCo said the deal is recognition of “the infinite work of an extraordinary team of people that brought NotCo to its highest point,” adding: “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.”
