v2food said it would close its $20M Wodonga plant, three years after it opened in 2020

Australian plant-based meat company supplying patties to Hungry Jack's and products to supermarkets

A dedicated $20M factory would give v2food local capacity to supply plant-based patties to supermarkets and Hungry Jack's

$20 million for the Wodonga factory

v2food was founded in 2019 as a joint venture between the CSIRO's Main Sequence Ventures and Jack Cowin's Competitive Foods Australia, and supplies patties to Hungry Jack's and plant-based products to major supermarkets. Its $20-million factory in Wodonga, Victoria, opened in December 2020 and soon began exporting patties to Burger King in New Zealand.

ABC understood about 30 people worked at the plant when it opened but only four remained by early 2023. A market analyst said the plant-based meat category was finding it difficult amid high inflation and after COVID lockdowns, because to succeed it has to be cheaper than real meat.

On 17 February 2023 v2food confirmed it would close the Wodonga factory, with staff to be notified in the coming weeks and work moving to other facilities. Chief growth officer Andrew May said there would be no impact on continuity of supply, because the site mainly made ingredients that can be made elsewhere, and the shift would strengthen its position.

The Wodonga site mainly made specific ingredients that could be made elsewhere

Staffing had dropped from about 30 to four

An analyst said plant-based meat was struggling amid inflation and post-lockdown conditions

Consolidating production in other facilities would keep supply continuous

A dedicated plant built for a boom needs steady demand; when a category slows, the company consolidates production in other facilities rather than carry an underused site.

As of 2023-02-17, v2food was set to close the Wodonga plant with work moving to other facilities, and said supply of its products would not be affected; the closing date was unconfirmed.