Kraft Heinz brings innovation to the microwave with new frozen food product
Scott Olson
Kraft Heinz (NASDAQ:KHC) announced a new innovation on Tuesday with the unveiling of the 360CRISP microwave product. The food giant said the new disruptive platform for the microwave creates crispy, crunchy products like you get on the stove. 
Kraft Heinz (KHC) said the 360CRISP makes its debut with the launch of LUNCHABLES Grilled Cheesies, with the goal to introduce five new products across four iconic brands by the end of 2024. As the brandâs first expansion into the frozen food category, LUNCHABLES Grilled Cheesies is the brand's first expansion into the frozen food category. 360CRISP is said to deliver a golden brown, pan-like crisp outside and melty cheese inside in just 60 seconds. 
âThe launch of 360CRISP is a clear proof point in our mission to reinvent the frozen category by providing high-quality, delicious, and convenient solutions for snack-time and beyond,â said Kraft Heinz (KHC) exec Alan Kleinerman. "At Kraft Heinz, weâre sitting at the intersection of food and technology â building consumer-first innovations that revolutionize the meal table and importantly, drive real value for families around the world. 360CRISP is just the beginning," he added.
LUNCHABLES Grilled Cheesies rolls out to select grocery retailers across the U.S. beginning this month for a suggested retail price of $4.99 per box of two sandwiches.
Last month, The Wall Street Journal reported that Kraft Heinz Company (KHC) sees a new revenue stream in offering lunch at schools in the U.S. Some school cafeterias are expected to start offering prepackaged meal kits as early as this fall, although there has been some pushback from parent groups and nutrition advocates about adding processed, branded foods to school menus. The food giant has a broad strategy to introduce its brands to a new generation of consumers after losing ground to health-focused brands and private labels. Current Kraft CEO Miguel Patricio and Carlos Abrams-Rivera, the CEO successor in 2024, stated in an interview that the company identified schools as a key way to expand its food-service division and help drive grocery store sales as well. Lunchables is seen as a strategic way to enter the school lunch market. "The kids have it and then they go to retail and they see it...[It's] a penetration machine," stated the execs to the WSJ.

More on Kraft Heinz

Seeking Alphaâs Quant Rating on Kraft Heinz
Historical earnings data for Kraft Heinz
Dividend scorecard for Kraft Heinz
Financial information for Kraft Heinz
Kraft Heinz: Decent Company, However, I'm Waiting For Improvements
Kraft Heinz: A Broken Business Model With Saturated Brands
Kraft Heinz: As Price Hikes Fade, Focus Will Turn To Volumes
Kraft Heinz: 5% Yield And Up To 40% Undervalued