Caracas: Venezuelan President Hugo Chavez said that Empresas Polar SA, the country's largest food maker, will be subject to seizure should the government find that the company is refusing to sell food to a state-run retailer.
Chavez said he has information that Polar is "putting hurdles" in food shipments to recently nationalised Exito retail stores and that Polar's president, Lorenzo Mendoza, is upset over his company's exclusion from a joint venture with France's Casino Guichard Perrachon SA.
"If Polar refuses to continue to supply food, I could make a decision that you won't like, Mr Mendoza," Chavez said on state television. "This would be with respect to the whole company, I don't have any problems. Revise yourself and your people."
Chavez threatened to nationalise Polar in 2009, accusing the company of trying to evade laws requiring food companies to produce price-controlled foods. The government is seeking to increase its control of food distribution and retail chains and has seized a rice plant owned by US-based Cargill Incorporated.
Polar, Venezuela's largest private company, makes corn flour for the country's staple food, arepas, as well as rice, pasta, ketchup, beer, juices and Pepsi for the South American country.
Chavez nationalised six retail stores last month that were majority-owned by Casino, and on February 13 said that the government agreed to buy a majority stake in a joint venture to also control 35 supermarkets.
Polar boosted its shipments of food goods 85 per cent this year to Cadena de Tiendas Venezolanas SA, known as Cativen, which controlled the Exito and Cada supermarket brands, Polar said in a statement.
