The film centers on a chef who, after losing his job, opens a food truck to regain his mojo and get his family back together. Downey Jr. will be joining Favreau, Sofia Vergara, John Leguizamo and Bobby Cannavale in front of the camera.
Michael Shamberg, Stacey Sher and Erwin Stoff will produce.
Downey Jr. can currently be seen in the third “Iron Man” installment, the film coming on the heels of the wildly successful “Avengers” pic which he also starred in.
He is repped by CAA.