V2food

Last updated
v2food
IndustryFood
FoundedJanuary 2019;5 years ago (2019-01)
FounderNick Hazell
HeadquartersAustralia
Key people
Nick Hazell (CEO)
Jack Cowin (investor)
ProductsPlant-based patties, mince, sausages
Website www.v2food.com

v2food is an Australia-based producer of plant-based meat substitutes. It is a partnership between Jack Cowin's Competitive Foods Australia and CSIRO's investment fund Main Sequence Ventures. [1] The company produces plant-based meat alternative products using protein extracted from legumes. [2]

Contents

History

v2food was founded in January 2019 out of a partnership between Jack Cowin's Competitive Foods and CSIRO's investment fund Main Sequence Ventures. [3] Jack Cowin's company also owns Hungry Jack's, the master franchisee of Burger King in Australia. [4] [5] CSIRO entered into an arrangement where the organization would generate research in exchange for an equity stake of the company. [6] Founder Nick Hazell also serves as CEO of v2food. [5]

Competitive Foods currently operates a facility in Brisbane. In 2019 the Australian Financial Review reported that a new factory to supply v2food would break ground in Wodonga before the end of 2019. [7] The factory opened in December 2020; however in 2023 the factory was shut down following challenges in the marketplace. [8]

The company intends to expand its reach into China and other parts of Asia. [2]

Products

Hungry Jack's launched v2food's first product in October 2019, the "Rebel Whopper", a meat-free alternative to the fast food company's signature Whopper burger. [7] [5] [9] v2food's burger patties later became available at Soul Burger and Burger Urge outlets, as well as New Zealand Burger King restaurants from January 2020. [10] In late 2020 Burger King launched the "Plant-Based Whopper" featuring v2food's patties in the Philippines and Japan. [11]

In April 2020 v2food's mince product became available in meal kits from Marley Spoon. Their mince and burger patties became available in Woolworths and Coles supermarkets later that same year. [10] The company released a sausage product in 2021. [12]

See also

Related Research Articles

<span class="mw-page-title-main">Hamburger</span> Food consisting of a beef patty between rounded buns

A hamburger, or better known as a burger, is a food consisting of fillings—usually a patty of ground meat, typically beef—placed inside a sliced bun or bread roll. Hamburgers are often served with cheese, lettuce, tomato, onion, pickles, bacon, or chilis; condiments such as ketchup, mustard, mayonnaise, relish, or a "special sauce", often a variation of Thousand Island dressing; and are frequently placed on sesame seed buns. A hamburger patty topped with cheese is called a cheeseburger.

<span class="mw-page-title-main">Burger King</span> Global chain of hamburger fast food restaurants headquartered in Florida

Burger King Corporation is an American multinational chain of hamburger fast food restaurants. Headquartered in Miami-Dade County, Florida, the company was founded in 1953 as Insta-Burger King, a Jacksonville, Florida–based restaurant chain. After Insta-Burger King ran into financial difficulties, its two Miami-based franchisees David Edgerton (1927–2018) and James McLamore (1926–1996) purchased the company in 1959 and renamed it "Burger King". Over the next half-century, the company changed hands four times and its third set of owners, a partnership between TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, took it public in 2002. In late 2010, 3G Capital of Brazil acquired a majority stake in the company in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with its partner Berkshire Hathaway, eventually merged the company with the Canadian-based doughnut chain Tim Hortons under the auspices of a new Canadian-based parent company named Restaurant Brands International.

<span class="mw-page-title-main">Meat alternative</span> Plant-based food made to resemble meat

A meat alternative or meat substitute, is a food product made from vegetarian or vegan ingredients, eaten as a replacement for meat. Meat alternatives typically approximate qualities of specific types of meat, such as mouthfeel, flavor, appearance, or chemical characteristics. Plant- and fungus-based substitutes are frequently made with soy, but may also be made from wheat gluten as in seitan, pea protein as in the Beyond Burger, or mycoprotein as in Quorn. Alternative protein foods can also be made by precision fermentation, where single cell organisms such as yeast produce specific proteins using a carbon source; as well as cultivated or laboratory grown, based on tissue engineering techniques.

<span class="mw-page-title-main">Whopper</span> Hamburger sold at Burger King and Hungry Jacks

The Whopper is the signature hamburger and an associated product line sold by the international fast food restaurant chain Burger King and its Australian franchise Hungry Jack's. Introduced in 1957, the hamburger has undergone several reformulations, including changes to portion size and bread used. The hamburger is well known in the fast food industry, with Burger King advertising itself as "the Home of the Whopper" and naming its kiosk stores the BK Whopper Bar. In response to the Whopper, Burger King's competitors have developed similar products designed to compete against it.

Ground beef, minced beef or beef mince is beef that has been finely chopped with a knife, meat grinder, mincer or mincing machine. It is used in many recipes including hamburgers, bolognese sauce, meatloaf, meatballs, and kofta.

<span class="mw-page-title-main">Hungry Jack's</span> Australian fast food franchise

Hungry Jack's Pty Ltd. is an Australian fast food franchise of the Burger King Corporation. It is a wholly owned subsidiary of Competitive Foods Australia, a privately held company owned by Jack Cowin. Hungry Jack's owns and operates or sub-licenses all of the Burger King/Hungry Jack's restaurants in Australia.

<span class="mw-page-title-main">Veggie burger</span> Non-meat hamburger

A veggie burger is a hamburger made with a patty that does not contain meat, or the patty of such a hamburger. The patty may be made from ingredients like beans, nuts, grains, seeds, or fungi such as mushrooms or mycoprotein.

<span class="mw-page-title-main">Big King</span> Hamburger sold by Burger King

The Big King sandwich is one of the major hamburger products sold by the international fast-food restaurant chain Burger King, and was part of its menu for more than twenty years. As of March 2019, it is sold in the United States under its 1997 Big King XL formulation. During its testing phase in 1996–1997, it was originally called the Double Supreme and was configured similarly to the McDonald's Big Mac—including a three-piece roll. It was later reformulated as a more standard double burger during the latter part of product testing in 1997. It was given its current name when the product was formally introduced in September 1997, but maintained the more conventional double cheeseburger format.

Jack Cowin is a Canadian-Australian businessman and entrepreneur with a long-term involvement in franchised fast food chains in Australia and Canada. Cowin brought KFC to Australia, founded and owns Hungry Jack's, which is the Burger King franchise in Australia, and has at various stages controlled the Domino's Pizza franchise in Australia prior to its 2005 listing on the ASX.

As far back as the 1970s, international fast food restaurant chain Burger King has attempted to introduce a premium line of burgers. These sandwiches are part of a system which eventually became known as the barbell strategy; a plan designed to expand Burger King's menu with both more sophisticated, adult-oriented fare along with products that are more value-oriented. This program is intended to bring in a larger, more affluent adult audience who will be willing to spend more on the better quality products on one side while maintaining a lower cost value menu dedicated to a more cost-conscious audience on the other. The hope is that the customers would be drawn in initially for the lower prices of the value-menu and upgrade to the more expensive products, upping overall sales.

The legal issues of Burger King include several legal disputes and lawsuits involving the international fast food restaurant chain Burger King (BK) as both plaintiff and defendant in the years since its founding in 1954. These have involved almost every aspect of the company's operations. Depending on the ownership and executive staff at the time of these incidents, the company's responses to these challenges have ranged from a conciliatory dialog with its critics and litigants to a more aggressive opposition with questionable tactics and negative consequences. The company's response to these various issues has drawn praise, scorn, and accusations of political appeasement from different parties over the years.

Competitive Foods Australia (CFA) is the largest franchiser of restaurants in Australia. It is owned and operated by Jack Cowin. Its units are Hungry Jack's and, previously, some KFC stores.

<span class="mw-page-title-main">Beyond Meat</span> Los Angeles-based producer of plant-based meat substitutes

Beyond Meat, Inc. is a Los Angeles–based producer of plant-based meat substitutes founded in 2009 by Ethan Brown. The company's initial products were launched in the United States in 2012. The company went public in 2019, becoming the first plant-based meat analogue company to go public.

<span class="mw-page-title-main">Burger King breakfast sandwiches</span> Breakfast sandwiches in the product portfolio of Burger King

International fast-food restaurant chain Burger King and its Australian franchise Hungry Jack's have had a variety of breakfast sandwiches in their product portfolio since 1978. The Croissan'wich was the first major breakfast sandwich product introduced by the company.

Impossible Foods Inc. is a company that develops plant-based substitutes for meat products. The company's signature product, the Impossible Burger, was launched in July 2016 as a vegan alternative to beef hamburger.

McVegan is a veggie burger sold by the fast-food restaurant chain McDonald's. In 2017, McDonald partnered with the Swedish food company Orkla to create a plant-based patty inside a small steel kitchen in Malmö, where they began the creation of the product. In Germany, the chain's vegan burger is sold as the Big Vegan TS.

<span class="mw-page-title-main">Impossible Whopper</span> Veggie burger sold by Burger King

The Impossible Whopper is a veggie burger sold by Burger King. It is a variant of the Whopper, with a burger patty made from a meat alternative provided by Impossible Foods. First introduced in the United States in 2019, it was made available in Canada in 2021.

<span class="mw-page-title-main">Fry Group Foods</span> South African/Australian manufacturer of vegan meat analogues

Fry Group Foods is a manufacturer of vegan meat substitutes founded by South Africans Wally and Debbie Fry in 1991. In March 2020 it joined LIVEKINDLY Collective, the global plant-based food company.

<span class="mw-page-title-main">McPlant</span> McDonalds vegetarian burger

The McPlant is a vegetarian burger sold by the fast-food chain McDonald's in several European countries. In 2021, McDonald's partnered with Beyond Meat, a Los Angeles–based producer of plant-based meat substitutes, to create the McPlant platform. It features a plant-based meat alternative burger patty made from plant ingredients such as potatoes, peas and rice.

References

  1. Vickovich, Aleks (2019-05-24). "Hungry Jack's and CSIRO scientists to develop meat-free Whopper". Business Insider Australia. Retrieved 2019-10-21.
  2. 1 2 Waters, Cara (2020-10-20). "V2food raises $77 million to take its plant-based burgers to China". Sydney Morning Herald. Retrieved 2021-07-12.
  3. Palmer-Derrien, Stephanie (2019-10-02). "As Australia's meat-free scene sizzles, Hungry Jack's boss backs plant-based protein startup". SmartCompany. Retrieved 2021-07-12.
  4. "Australia just got a new plant-based meat startup; v2food". 9News. 2019-10-02. Retrieved 2019-10-21.
  5. 1 2 3 Daly, John (2019-10-08). "CSIRO teams with takeaway tycoon to make 'fake meat' fast food". Australian Broadcasting Company. Retrieved 2019-10-21.
  6. Heard, Gregor (2019-10-03). "Plant based protein to boost Aussie pulse sector". Newcastle Herald. Retrieved 2019-10-21.
  7. 1 2 Balley, Michael (2019-10-01). "Jack Cowin to build $20m fake meat factory". Australian Financial Review. Retrieved 2019-10-21.
  8. Long, Warwick (2023-02-17). "Plant-based meat manufacturer V2food set to close $20m Wodonga factory". ABC News. Retrieved 2023-07-17.
  9. Koehn, Emma (2019-10-01). "Cowin says cow out as Hungry Jack's offers meat-free option". Brisbane Times. Retrieved 2019-10-21.
  10. 1 2 Palmer-Derrien, Stephanie (2020-11-05). "From the Rebel Whopper to global domination: A year in the life of plant-based meat startup v2food". SmartCompany. Retrieved 2021-07-12.
  11. Ho, Sally (2021-01-14). "Burger King Launches Plant-Based Whoppers Across Asia With v2food & The Vegetarian Butcher". Green Queen. Retrieved 2021-08-09.
  12. Jackson, Deborah (2021-04-01). "Plant-based food company v2food set to expand into P&C". C-Store. Retrieved 2021-07-12.