Supermarket giants Tesco and Carrefour today (7 June) announced there would be no extension of their landmark deal to combine their global buying power.

The UK’s biggest retailer and the French hypermarket empire said they wanted to focus on “their own opportunities” as the agreement signed in July 2018 comes to an end in December.

In a joint statement the companies said today: “Over the last three years, Tesco and Carrefour have benefited from a number of joint buying opportunities across food and general merchandise categories, enabling access to new suppliers, new sources and new products.

“Moving forward, both companies have agreed that they will continue this work independently and focus on their own opportunities, building on the experience and the progress made during the alliance period.”