Italian retailer Conad has reiterated plans to spend EUR770m (US$957.3m) on expanding its network, including the possibility of acquisitions.

Conad has set out plans to open 260 new stores and snap up other chains between 2012 and 2014.

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The project was scheduled to run between 2011 and 2013 but was delayed by Conad’s acquisition in December of a clutch of Billa stores in Italy from German retail giant Rewe.

Conad last week reported a 4% increase in sales for 2011 to EUR10.2bn. It led to its share of the Italian grocery market climbing 0.7 percentage points to 10.6%.

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