Tesco bowed to pressure from the US owner of Heinz after a price dispute and agreed to pay more to keep supermarket shelves stocked with baked beans and ketchup.
Heinz, which is owned by Kraft Heinz, and Tesco said they had resolved a pricing dispute that saw supplies halted by the US group when Tesco refused to pay more for its products. Heinz sets a cost price for its goods and then recommends what price retailers can sell them at.
In a joint statement, the companies said: “Tesco and Heinz are delighted to have reached an agreement which will see the full range of Heinz products return to Tesco shelves and online, continuing to offer our customers great value on the nation’s favorite Heinz varieties .
“Trucks full of Heinz products, including Heinz Tomato Ketchup and Heinz Beanz, will be on their way soon and Tesco colleagues will be working hard to ensure the shelves are stocked again in the coming days.”
Tesco is believed to have agreed to pay more for Heinz products after previously saying it was seeking to protect customers from “unwarranted price increases”.
The supermarket previously sold Heinz products at a lower price than its competitors. Figures from Assosia compiled for the Telegraph show that a 415g tin of Heinz baked beans sells for £1 at Tesco, compared to £1.20 at Asda and £1.20 at Sainsbury’s.
Meanwhile, Heinz ketchup was selling for £2 at Tesco, compared to £2.79 at Asda and £2.80 at Sainsbury’s.
The dispute meant that Heinz products were out of stock in many of Tesco’s stores and online. Deliveries are expected to start arriving at Tesco stores from early next week.
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