Marmite Brexit price war 'has been resolved'

Unilever (NYSE: UL - news) has announced that its dispute with UK supermarkets over the price of brands including Marmite has been resolved.

The company, which supplies much-loved brands including Ben & Jerry's ice cream, Dove soap, Hellmann's mayonnaise, Flora and PG Tips, had attempted to raise its wholesale prices by 10% in response to the volatility in the currency markets.

Tesco (Frankfurt: 852647 - news) resisted the change and responded by refusing to sell dozens of the products on its website, listing them as 'unavailable'.

Several other supermarkets told Sky News that they were in the process of conducting similar talks with the company.

The pound has fallen 17% since June's vote for Britain to leave the European Union and although many Unilever products are made in the UK they may include ingredients which have to be imported from abroad.

Announcing the resolution, Unilever said in a statement: "Unilever is pleased to confirm that the supply situation with Tesco in the UK and Ireland (Other OTC: IRLD - news) has now been successfully resolved.

"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 also released a statement commenting on the news, saying: "We always put our customers first and we're pleased it's been resolved to our satisfaction."

Unilever is one of the world's biggest manufacturers of consumer products and generated profits of about £2bn in the first half of this year.