Kraft Heinz Products To Be Back In Tesco: Reuters

by Shivani Kumaresan, Benzinga Staff Writer

July 8, 2022 1:44 PM | 1 min read | Make a Comment

Kraft Heinz Co KHC and Tesco PLC TSCDY have resolved the pricing issues and have decided to bring back Kraft Heinz's products to Tesco's supermarkets, Reuters reported.
Kraft Heinz halted supplying products, including tomato ketchup and baked beans, as Tesco backed out from charging customers higher prices to cushion inflationary pressures.
Tesco reportedly has an over 27% share of Britain's grocery market.
As the world battles a surge in inflation, European retailers are negotiating with food companies about the price hike to curb inflation.
Price Action: KHC shares are trading higher by 0.51% at $38.28 on the last check Friday.
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