Meat substitutes
Founded in January 2019 when Hungry Jacks and CSIRO scientists partnered up to develop a legume-based meat-free whopper. The 50:50 joint venture is between Competitive Foods & CSIRO's investment fund Main Sequence Ventures. Produces the patties for the Hungry Jacks Rebel Whopper burger. Products also available at Woolworths. In Oct 2020 three Asian investment firms injected $77 million, and in 2021 V2Food sealed three partnerships in Mainland China, including one with 30,000 distribution points. Acquired plant-based meals brand Soulara in 2024.
V2 Food Pty Ltd
AUS
Competitive Foods Australia Pty Ltd
owns 50% of V2 Food Pty Ltd
AUS
Fast food retail
Founded in 1969. Owned by Jack Cowin, "The Father of Fast Food in Australia". Owns 430 Hungry Jacks stores (only 65 franchised), and 23% of Domino's Pizza Enterprises. Mr Cowin was also a Director of Network Ten and Fairfax Holdings and owns three food manufacturing plants.
Company Assessment
(Last updated Nov 2024)
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V2 Food Pty Ltd
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5/5 for packaging performance
This company received the highest packaging performance level of 5 (Beyond Best Practice) in its 2024 APCO Annual Report. Australian Packaging Covenant Organisation (APCO) is a not-for-profit organisation leading the development of a circular economy for packaging in Australia. Each year, APCO Members are required to submit an APCO Annual Report and Action Plan, which includes an overall performance level from 1 (Getting Started) to 5 (Beyond Best Practice).
Source: APCO
(2024)
Certified B Corp with score of 81.9
Certified B Corporations, or B Corps, are companies verified by B Lab to meet high standards of social and environmental performance, transparency, and accountability. The B Impact Assessment measures a company's practices and outcomes in five areas: governance, workers, community, the environment, and customers. This company has a B Impact Score of 81.9 and has held B Corp Certification since December 2022. The median score for businesses is 50.9, with a score of 80 required for B Corp Certification.
Source: B Lab
(2024)
Sustainability claims
This company has sustainability claims on its website, mainly in the area of mitigating climate issues by choosing meat free meals.
Source: company website
(2020)
Competitive Foods Australia Pty Ltd
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About Jack Cowin
Jack Cowin has long been a prominent member of the Financial Review Rich List. His wealth from his private Competitive Foods that has 430 Hungry Jack's fast-food stores around the country and his 23 per cent stake in the listed Domino's Pizza Holdings make up the majority of his $2.41 billion fortune. Follow the link to read his back story.
Company Details
Type:
Joint venture
Founded:
2019