May 2, 2018 / 9:46 AM / in 22 days

Nestle reaches deal to settle row with European retailers

ZURICH, May 2 (Reuters) - Swiss food group Nestle confirmed on Wednesday it had reached an agreement with European retailers to settle a months-long pricing row.

“We are pleased that a balanced agreement has been reached and that Nestle products will soon be back on the shelves of the six members of the European retail alliance AgeCore,” a company spokesman said, confirming a report by Germany’s Lebensmittelzeitung.

Nestle has for months faced off with AgeCore, a Geneva-based group representing six European retailers — including Germany’s Edeka and Switzerland’s Coop — who had boycotted Nestle products as they sought better supply terms.

An Edeka spokesman confirmed the settlement but gave no further details.

Reporting by Angelika Gruber, writing by Michael Shields, editing by John Revill

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