You are here

Carrefour, Tesco alliance to become operational in October

BP_Carrefour_060818_106.jpg
The companies first announced the tie-up in July, with French company Carrefour joining up with UK peer Tesco to form a global purchasing alliance to demand better terms from major suppliers, in the latest attempt by the industry to drive down costs.

[PARIS] Supermarket retailers Carrefour and Tesco said on Monday that they expected their previously-announced purchasing alliance to become operational in October.

The companies first announced the tie-up in July, with French company Carrefour joining up with UK peer Tesco to form a global purchasing alliance to demand better terms from major suppliers, in the latest attempt by the industry to drive down costs.

With combined annual sales of US$170 billion, the partnership is designed to secure a better deal from the likes of Nestle , Procter & Gamble, Unilever, Danone and others to help the French and British groups to compete hard on price.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes