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Tesco has revealed that it will not be extending its purchasing alliance with the French multinational retail corporation, Carrefour.
Having commenced the three-year operational framework in 2018, the two firms have agreed to discontinue the buying partnership from 31 December 2021.
The agreement had been signed in 2018 in a bid to offer “even lower prices” and “improve the quality and choice of products available”.
In turn, Tesco claimed that the two groups have benefited from “a number of joint buying opportunities” across both food and merchandise areas over the past three years.
The deal also saw increased “access to new suppliers, new sources, and new products” for the supermarket chains.
However, Tesco added that looking ahead, “both companies have agreed that they will continue this work independently”.
By splitting away from the “strategic alliance”, the groups aim to “focus on their own opportunities, building on the experience and the progress made during the alliance period”.
