This paper proposes to analyse the advantages and disadvantages of strategic alliances in agri-food chains, based on the perceptions of participating agents from a specific beef productive chain. The analysis is therefore based on the alliance’s main partners’ view: retail, abattoir and beef producers. Their objective was to produce a differentiated product and to develop a beef brand to be commercialized at retail level. In addition, this study also proposes to identify the main factors impacting in the success of alliances, from the agents’ point of view, as well as the main causes of failure in this kind of strategy, allowing for a better understanding of the factors that can maintain such alliances in the market. The obtained results indicate that the perception of the agents is very similar regarding both advantages and disadvantages of the alliance. Nevertheless, the advantages are more valorised by the agents, and they refer to product differentiation, market access and more stability in the production. Commitment and regularity in the production are considered the core conditions for success; on the other hand the lack of such characteristics was considered the main cause of failure in alliances that failed to have continuity in the past.