April 25, 2018 / 6:19 AM / a month ago

Retailer Carrefour agrees purchasing deal with Systeme-U

PARIS, April 25 (Reuters) - Carrefour, Europe’s largest supermarket retailer, said on Wednesday it had struck a five-year purchasing deal with smaller, domestic peer Systeme-U to favour French agricultural producers.

The deal is the latest alliance within the competitive French supermarket industry, which has seen U.S. Internet giant Amazon make inroads over the last year.

In January, Carrefour announced plans to cut costs and jobs, boost e-commerce investment and seek a partnership in China in an effort to lift profit and revenue and help it to contend with the competition from Amazon.

Carrefour and Systeme-U said they would aim to offer “fair compensation” to French farmers, as part of their partnership. (Reporting by Sudip Kar-Gupta and Pascale Denis, editing by Louise Heavens)

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