- Kraft Heinz Co (NASDAQ:KHC) and Tesco PLC (OTC: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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