Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Top Story

Carrefour, Tesco in joint purchasing alliance

The French and British supermarket giants said in a joint statement that they plan to jointly purchase goods in a bid to cut costs.

Paris, France, Jul 2 – Carrefour and Tesco, two of Europe’s largest retailers, said Monday they plan to form a purchasing alliance to increase their leverage with suppliers in a fiercely competitive supermarket sector.

The French and British supermarket giants said in a joint statement that they plan to jointly purchase goods in a bid to cut costs.

The deal, which will last for three years, is expected to be concluded “within the next two months,” the statement said.

Other European rivals are similarly scrambling to reduce supply costs.

Britain’s second and third-biggest supermarket chains, Sainsbury’s and Walmart-owned Asda, have agreed to merge.

And last week, France’s Auchan, Casino and Schiever group’s said they will combine forces with Germany’s Metro in purchasing.

Under its chief executive Alexandre Bompard, who took over last summer, Carrefour has moved to beef up its e-commerce operations and to reduce the company’s dependence on giant stores.

Tesco and Carrefour said their alliance will let the companies improve the supply of goods available in stores.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...