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7/2/2018, 8:23 AM (Source: TeleTrader)
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Tesco, Carrefour team up in 'strategic alliance'

British supermarket giant Tesco plc is teaming up in a "long-term, strategic alliance" with French retailer Carrefour SA, the company announced on Monday.

"The Alliance will cover the strategic relationship with global suppliers, the joint purchasing of own brand products and goods not for resale. It will be governed by a three-year operational framework," according to Tesco's statement. The partnership is expected to be formally agreed within two months, the company added, highlighting it will enable both Tesco and Carrefour to "improve the quality and choice of products available to their customers, at even lower prices."

Chief executive officer of Tesco Group, Dave Lewis, said he is "delighted" to enter the partnership with Carrefour as it will make "the most of our collective product expertise and sourcing capability, we will be able to serve our customers even better, further improving choice, quality and value."

Breaking the News / JC