Costco is launching its own version of Nutella

Costco has introduced its own cheaper version of the beloved hazelnut and chocolate spread. (Kirkland)

Costco’s new spread is giving Nutella a run for their money.

The warehouse chain has revealed they are now selling a hazelnut and chocolate spread under its Kirkland brand, and it’s much cheaper than the original Nutella version.

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At Costco, a package of two 35.2 ounce jars of the Kirkland Signature Hazelnut Spread in-store will cost customers $7.99. Online, the spread is listed at a slightly higher $9.99 – however, both of these are less expensive than Nutella, which clocks in at $13.99 for two 33.5 ounce jars on Costco’s online store.

Nutella-obsessed fans were responsible for riots in France when a supermarket offered an extreme discount on the spread. (iStock)

As Food & Wine points out, the Costco version is seven cents cheaper per unit than Nutella, charging $0.14 per ounce verse $0.21 per ounce for Nutella.

No word yet on how the Costco version stacks up to the original, but if its other Kirkland-brand items touted for their high-quality are any proof, Nutella enthusiasts will probably be pleased with the cheaper Costco option.

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Nutella is known for their obsessed fans, who recently caused riots in France when a supermarket offered a deep discount of 70 percent off each jar of the spread. The one-day only deal led to the French Minister of Economy and Finance to hold an emergency meeting disapproving of such extreme markdowns on the cult-favorite.