TSCO Tesco Plc

By Maryam Cockar

Tesco PLC (TSCO.LN) said Monday that it has entered into a long-term, strategic alliance with Carrefour SA (CA.FR) that will cover relationships with global suppliers, the joint purchasing of own brand products and goods not for resale.

FTSE 100-listed Tesco said the partnership will be governed by a three-year operational framework and it expects the deal to be formally agreed within the next two months.

Tesco said the alliance with the French supermarket chain allows both companies to improve the quality and choice of products available, even at lower prices, which will enhance their competitiveness.

The agreement will see Tesco and Carrefour strengthen relationships with suppliers. Tesco said each company will continue to work with their suppliers at a local and national level.

Write to Maryam Cockar at maryam.cockar@dowjones.com

(END) Dow Jones Newswires

July 02, 2018 02:33 ET (06:33 GMT)

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