According to Russian reports, the Omega 97-owned grocery chain Paterson plans to invest around US$35m in new store openings in the coming year.

Alexei Ivanov, director of corporate communications, was quoted in Prime-TASS News as saying that Paterson plans to expand its chain by 34 stores. The company has also considered the possibility of acquiring other grocery chains, Ivanov said.

The company currently operates 69 outlets, 29 of which are in Moscow and the Moscow Region. Paterson reported 2005 sales of US$302m, and the company has predicted sales growth of 30% in 2006.