By the end of the year Serbian Delta Maxi plans to open 10 new supermarkets in Bulgaria, as part of its regional expansion campaign, Serbian broadcaster B92 reported.

Delta Maxi bought a majority stake in Bulgarian retail chain Piccadilly last year, at which point its CEO Dragan Filipovic said the company would invest 70 million euro in Bulgaria over the next two years.

The group plans to open 10 new commercial sites in Serbia, eight in Montenegro and five in Bosnia and Herzegovina. The company also plans to set foot in Albania, Macedonia and Ukraine.

In Serbia, Delta Maxi dominates the market with more than 360 supermarkets and stores countrywide, reporting revenues of 900 million euro last year, B92 said.

Its majority shareholder, Delta Holding is the country's largest private company and is owned by Miroslav Mišković, considered to be Serbia's richest man.