New partner for Tesco

TESCO, the UK’s biggest retailer, is set to enter into a “strategic alliance” with Europe’s biggest retailer, Carrefour.

The alliance will cover deals that are made with global suppliers, where Tesco will join the French retail giant and use their collective buying power to cut costs.

Each company will continue to work with supplier partners at a local and national level, with the alliance also governed by a three-year framework.

Dave Lewis, Tesco Group chief executive, said:

“By working together and making 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.”