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Tesco plc

Supermarket chains Tesco, Carrefour form strategic alliance

Tesco and Carrefour, two of Europe's biggest supermarket chains, are teaming up to wring better deals out of suppliers as traditional retailers battle increased competition from internet traders.

The two companies on Monday announced plans to form a "long-term strategic alliance" that will govern relations with global suppliers and include joint purchasing of the stores' own-brand goods. The goal is to "improve the quality and choice of products" and enhance competitiveness, Tesco and Carrefour said in a statement.

"This strategic alliance between Carrefour and Tesco is a major agreement as it combines the purchasing expertise of two world...