After a three-month impasse over grocery prices, Carrefour SA (OTC:CRRFY) stores in France have restocked PepsiCo Inc (NASDAQ:PEP) and Cheetos, signaling the resolution of a dispute between the food giant and one of Europe's largest grocers.
Carrefour and PepsiCo have reached a deal allowing PepsiCo products back on French shelves. Negotiations for returns in four other countries are ongoing, reported The Wall Street Journal.
As per the report, Carrefour France executive director Alexandre de Palmas expressed delight, posting a photo with Pepsi and stating, "It's a pleasure to see friends we haven't seen in a long time."
In early January, Carrefour ceased carrying PepsiCo products due to "unacceptable price increases," sparking a public disagreement.
The rift intensified as negotiations failed to resolve pricing disputes, echoing broader concerns over soaring food prices.
The feud affected about 10,000 Carrefour stores across multiple European countries.
Carrefour stores in those five countries account for about 0.27% of PepsiCo's global revenue, the report cited Bernstein analyst Callum Elliott.
Price Action: PEP shares traded higher by 0.64% at $170.74 on Thursday.
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Photo by ja-san-miguel for Unspalsh