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Hungry for small brands, Kraft Heinz starts incubator

Kraft Heinz Co. is looking for food startups, including organic and specialty labels, as it seeks to diversify its portfolio of established processed food brands.

The food company said March 7 that it will launch an incubator for small food brands with sales of up to $10 million, according to a statement. The incubator, called Springboard, will also offer opportunities for brands to partner with Kraft Heinz or grow an established product through the company.

"We are committed to support and partner with teams that will impact the future of our industry," Springboard General Manager Sergio Eleuterio said in the statement.

Through Springboard, Kraft Heinz is looking for brands in four categories: natural and organic, specialty and craft, health and performance, and "experiential."

Brands are able to apply for Springboard's programs until April 5. After that, the company will select participants and give them space to work on their products at the Kraft Heinz Innovation Center in Glenview, Ill.

The program comes weeks after Kraft Heinz's top executive said the company wants "to be a force" behind consolidation in the food industry, a signal that it may be open to making acquisitions on a variety of levels.

The maker of Heinz ketchup and Velveeta cheese spread said in a separate February presentation for investors and analysts that it plans to grow the international reach of some of its largest brands. At the same time, Kraft Heinz has also reported that U.S. sales of many processed foods, such as cold cuts, have fallen in recent quarters.

Against that backdrop, the company has introduced new variations on its mainstay products, debuting garlic aioli mayonnaise under its Heinz label and an organic version of its Capri Sun drink pouches.