Wesfarmer's Coles has announced in a company statement today that it has signed a new two year agreement as the exclusive supermarket sponsor of Network Ten's MasterChef Australia.

The new partnership will see Australian supermarket giant continue its relationship with the show in 2011 and 2012, including Junior MasterChef.

Coles Marketing Director Simon McDowell said he was thrilled to extend the country's most talked about marketing alliance for another two years.

"We've been partners with MasterChef Australia since the first series, and it's been a tremendous success for our customers, stores and team members," Mr McDowell said.

"The program has been a terrific way to showcase the ever-improving fresh food quality and value we're delivering to our customers in stores, and we can't wait to continue the journey in 2011 and 2012."

"Our relationship with MasterChef Australia and our ongoing partnership with Curtis Stone, will continue to highlight that quality food costs less at Coles." Mr McDowell said.

Coles have slightly outperformed rival Woolworths, with a 5.5 per cent rise in fourth quarter sales, partially because of the success of its MasterChef promotions.

Wesfarmers shares had increased 2.9 per cent to $29.99, while Woolworths shares edged up 1.5 per cent by 2:12pm (AEST).