Tesco and Carrefour have announced that their strategic alliance which aims to offer lower prices and improve the quality and choice of products available will become operational in October.
Last month the UK and French supermarket giants revealed the long term relationship will see the two supermarkets making joint purchases of own brand products and goods not for resale.
The deal will be governed by a three-year operational framework, and will seek to make the two supermarkets more competitive in the wake of the merger proposal between Sainsbury’s and Asda.
In a statement Carrefour said: “Further to their announcements dated 2 July 2018, Tesco and Carrefour are pleased to confirm that they have formally entered into a long-term, strategic alliance. As previously described, 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. Following the formal agreement announced today, we expect that the alliance will become operational in October 2018.”
Both companies previously iterated that despite the alliance they will continue to work with their respective supplier partners at a local and national level.
