PepsiCo products are being pulled from some grocery stores in Europe over price hikes
Global supermarket chain Carrefour will stop selling PepsiCo products in its stores in France, Belgium, Spain and Italy over price increases for popular items like Lay’s potato chips, Quaker Oats and its namesake soda
PARIS — Global supermarket chain Carrefour will stop selling PepsiCo products in it stores in France, Belgium, Spain and Italy over price increases for popular items like Lay's potato chips, Quaker Oats, Lipton tea and its namesake soda.
The French grocery chain said it pulled PepsiCo products from shelves in France on Thursday and added small signs in stores that say, “We no longer sell this brand due to unacceptable price increases.”
It comes as a new French law meant to fight the rising cost of living has supermarkets facing millions in fines if they don't reach a deal with suppliers on prices by the end of the month.
The ban also will extend to Belgium, Spain and Italy, but Carrefour, which has 12,225 stores in more than 30 countries, didn't say when it would take effect in those three countries.
PepsiCo products were still on shelves Friday in Rome and Barcelona. Carrefour Italia’s press office said information will be posted for customers in their stores in Italy in the next days.
PepsiCo said in a statement that it has “been in discussion with Carrefour for many months and we will continue to engage in good faith in order to try to ensure that our products are available.”
The company behind Cheetos, Mountain Dew and Rice-A-Roni has raised prices by double-digit percentages for seven straight quarters, most recently hiking by 11% in the July-to-September period.
Its profits are up, though higher prices have dragged down sales as people trade down to cheaper stores. PepsiCo also has said it's been
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