As Beyond Meat soars, Conagra sees $30 billion opportunity in Gardein plant-based meat alternatives

Conagra Brands Inc. says it sees an opportunity in the range of $30 billion from its recently acquired Gardein brand, which offers products in the growing plant-based meat category.

Conagra CAG, +1.38% acquired Gardein alongside a host of other brands including Duncan Hines, Log Cabin and Birds Eye as part of the $10.9 billion Pinnacle Foods deal, completed in October. Gardein offers items like Meatless Meatballs and Meatless Chick’n Strips that are made from wheat, ancient grains and vegetables.

Conagra Chief Executive Sean Connolly said the company looked at plant-based alternatives to meat as well as almond milk as an alternative to cow’s milk, finding that big business could await the company in this category.

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