Industry titans Coca-Cola and PepsiCo conspicuously failed to send representatives to a meeting convened by Canada’s Industry Minister, Francois-Philippe Champagne, aimed at lowering the skyrocketing grocery prices.
Monday’s meeting brought together the Canadian heads of seven international manufacturing giants, including Nestle and Kraft Heinz, all summoned by Champagne.
This follows Prime Minister Justin Trudeau’s recent call for Canadian grocers to devise a plan to stabilize prices by Thanksgiving.
“This morning, (their CEOs) did not attend the meeting,” Champagne told a journalist, referring to Pepsi and Coca-Cola.
“I intend to call on them, and I will continue to do so… I don’t stop,” he added. “The consequence is for all 40 million Canadians because we will be able to see who is taking action and who is not.”
Thanksgiving deadline
Prime Minister Trudeau has said that if major grocers’ proposals fail to satisfy the government’s quest for lower grocery prices, he might tax them.
Participants at Monday’s meeting, including executives from McCain, Unilever, Nestle, Lactalis, Lassonde, Kraft Heinz, and Smucker Foods, avoided engaging with the media.
Michael Graydon, CEO of the Food, Health & Consumer Products of Canada association, stepped in to speak on their behalf, describing the meeting as “very productive.”
Graydon acknowledged that the extent of the government’s demands by Thanksgiving remains uncertain but affirmed, “everybody’s working very hard to achieve that.”
While it was revealed that the CEOs of Pepsi and Coca-Cola cited unavailability for their absence, the future of further discussions with major food companies and the government remains uncertain.
Meta still blocking
This latest fight comes after the Liberals passed legislation requiring Mark Zuckerberg’s Meta to pay legacy Canadian media outlets
Canadians using Facebook or Instagram could continue to be blocked from accessing news until after the next federal election – which could be anytime between now and October 2025.
