date:Feb 17, 2014
Four big European supermarket chains, with a combined turnover of about 88 billion euros ($120 billion), have set up a strategic alliance to coordinate purchasing as they seek to drive down prices in a cut-throat retail climate.
The new CORE alliance, to be based in Brussels, brings together privately-owned Rewe, Germany's second biggest supermarket chain, Belgian discount grocer Colruyt (COLR.BR) and Italian and Swiss cooperatives Conad and Coop.
The partners have formed an alliance that give