Swiss food giant Nestle said it has reached an agreement with European retailers over a months-long pricing dispute.
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Germany-based supermarket Edeka, Belgium’s Colruyt, Switzerland’s Coop, France’s Intermarche, Eroski in Spain and Conad of Italy form the alliance.
A Nestle spokesperson declined to comment on the details of the agreement when contacted by just-food today (2 May).
A statement read: “We are pleased that a balanced agreement has been reached and Nestle products will soon be back on the shelves of the six members of the European retail alliance AgeCore (Edeka, Coop, Colruyt Group, Intermarche, Eroski, Conad).
”Our priority remains to ensure our consumers enjoy the Nestle products they know and love.”
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By GlobalDataNestle chief executive Mark Schneider said in an interview with the German newspaper Neue Zurcher Zeitung on 23 March that several European retailers were removing products from shelves to give them leverage in their price negotiations.
On a first-quarter conference call with analysts and investors earlier this month, Schneider confirmed negotiations were on-going, and added: ”Of course, we will only agree to a balanced arrangement and only sign when we’re satisfied that we get something out of an agreement. This is not the time for one-sided concessions.”
