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| Tesco brand price dispute resolved | |
| (35 minutes later) | |
| Issues surrounding the supply of leading brands including Marmite to Tesco have now been resolved, Unilever has said. | Issues surrounding the supply of leading brands including Marmite to Tesco have now been resolved, Unilever has said. |
| The supermarket giant and the UK's largest food manufacturer had been locked in a battle over wholesale prices. | The supermarket giant and the UK's largest food manufacturer had been locked in a battle over wholesale prices. |
| Unilever had wanted to raise its prices by about 10% to compensate for the steep drop in the value of the pound. | |
| Brands including Hellmann's Mayonnaise had been removed from Tesco's website. | Brands including Hellmann's Mayonnaise had been removed from Tesco's website. |
| "Unilever is pleased to confirm that the supply situation with Tesco in the UK and Ireland has now been successfully resolved," Unilever said. | "Unilever is pleased to confirm that the supply situation with Tesco in the UK and Ireland has now been successfully resolved," Unilever said. |
| "We have been working together closely to reach this resolution and ensure our much-loved brands are once again fully available. For all those that missed us, thanks for all the love." | "We have been working together closely to reach this resolution and ensure our much-loved brands are once again fully available. For all those that missed us, thanks for all the love." |
| Tesco v Unilever live updates | |
| Retailers warn over Brexit price rises | |
| Unilever and Tesco at loggerheads | |
| What do we know about Brexit? | |
| 'Marmitegate' explained | |
| The BBC understands that to resolve the situation Unilever had to give some ground. | |
| "We always put our customers first and we're pleased this situation has been resolved to our satisfaction," a Tesco spokesman said. | |
| Tesco had earlier on Thursday halted online sales of top-selling goods produced by Unilever such as Persil washing powder, Ben & Jerry's ice cream and Marmite yeast extract spread. | |
| The BBC understands that those products should be available on the Tesco website again in the coming days. | |
| Supermarket chain Asda said it too had successfully negotiated with Unilever. | |
| An Asda spokesperson said: "We pride ourselves on having famously low prices for customers every day and work tirelessly with our suppliers to keep prices low". | |
| Supermarkets frequently renegotiate supplier prices, but it is unusual for a dispute to be made public. | Supermarkets frequently renegotiate supplier prices, but it is unusual for a dispute to be made public. |
| Sterling has dropped by about 16% against the euro and 18% against the dollar since the UK's vote in June to leave the EU. | Sterling has dropped by about 16% against the euro and 18% against the dollar since the UK's vote in June to leave the EU. |
| The sharp drop has left suppliers and retailers dealing with the effects of higher bills for imported goods. | The sharp drop has left suppliers and retailers dealing with the effects of higher bills for imported goods. |
| Unilever is the UK's biggest grocery manufacturer, but as many of its products are made outside the UK, it had argued it should be getting more. | Unilever is the UK's biggest grocery manufacturer, but as many of its products are made outside the UK, it had argued it should be getting more. |
| Supermarket profit margins have already been squeezed by a long-running price war as the big established retailers try to stem the loss of market share to discounters such as Lidl and Aldi. | Supermarket profit margins have already been squeezed by a long-running price war as the big established retailers try to stem the loss of market share to discounters such as Lidl and Aldi. |