Tesco has given in to pressure from US owner Heinz after a price row and agreed to pay more to keep the supermarket shelves stocked with baked beans and ketchup.
Heinz, which is owned by Kraft Heinz, and Tesco said they had settled a pricing dispute, which led to the US group’s supply interrupting when Tesco refused to pay more for its products. Heinz establishes a cost for its goods and then recommends what price retailers can sell them at.
In a joint statement, the companies said: “Tesco and Heinz are pleased to have reached an agreement whereby the full range of Heinz products will return to Tesco’s shelves and online, and continue to offer our customers great value on the preferred Heinz varieties of the brand. country.
“Trucks full of Heinz products, including Heinz Tomato Ketchup and Heinz Beanz, will be hitting the road soon, and Tesco colleagues will be working hard to get the shelves stocked in the coming days.”
Tesco would have agreed to pay more for Heinz products, having previously said it did to protect its customers from “unwarranted price increases”.
The supermarket previously sold Heinz products for less than its rivals. Figures from Assosia, compiled for the Telegraph, showed that a 415g can of Heinz beans retailed for £1 at Tesco, compared to £1.20 at Asda and £1.20 at Sainsbury’s.
Heinz ketchup, meanwhile, sold for £2 in Tesco, compared to £2.79 in Asda and £2.80 in Sainsbury’s.
The altercation had led to stocks of Heinz products running low in many of Tesco’s stores and online. Deliveries are expected to arrive in Tesco stores early next week.