Russian grocery retailer Pyaterochka has revealed plans to expand its chain to 1,000 stores in St Petersburg, Moscow city and the Moscow region by 2013.

CEO Oleg Vysotsky said the expansion will be achieved through the building of new stores, acquisitions and franchising.

"We plan to expand our network to 250 stores in St. Petersburg, 250 in the Moscow Region and 500 in the city of Moscow," Vysotsky was quoted by Prime-TASS News as saying.  

The company currently has 107 stores in St Petersburg and 121 in Moscow and the Moscow region. Pyaterochka has 409 stores in total in Russia.

As well as increasing its number of stores the company plans to invest in its distribution facilities, expanding its St Petersburg distribution centre by the end of 2005 and opening a new distribution centre in Moscow in early 2006, Prime-TASS reported.