Carrefour CEO Apologizes After Spat With Brazil Meatpackers

Dow Jones11-27

By Michael Susin

Carrefour's Chief Executive Alexandre Bompard issued an apology to Brazil's government after the French grocer became the center of a spat with Brazilian meatpackers that prompted a boycott.

Bompard said last week that Carrefour would halt sales of meat produced in countries belonging to the Latin American trade bloc Mercosur at its French stores. He added that a trade deal with the European Union would create a risk of oversupply in France, with meat he said didn't comply with the country's requirements and standards.

"If Carrefour France's communication caused confusion and could have been interpreted as questioning our partnership with Brazilian agriculture or as a criticism of it, we apologize," Bompard said in a letter published by the Brazilian ministry of agriculture. Carrefour's Brazilian business confirmed Bompard had sent the letter.

The Brazilian unit, operating under the name of Atacadao, is Carrefour's biggest subsidiary outside France and was responsible for more than 20% of the group's total revenue in the third quarter.

Carrefour said its meat supply isn't affected in Brazil and that the declarations were aimed at supporting French farmers.

"More broadly, Brazil is the country in which Carrefour has invested the most under my presidency, which confirms our ambition and our commitment to the country. This is how we will continue to give prestige to local production and players and to boost Brazil's economy," Carrefour's Bompard said.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

November 26, 2024 11:26 ET (16:26 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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