Pyaterochka Holdings, Russia's largest grocery retailer, has changed its name to X5 Retail Group.

The group said that the new name reflected the changes that had taken place following the merger of Pyaterochka and Perekriostok in May this year.

Lev Khasis, group CEO, said: “The company has entered a new stage of development which required a new, modern and dynamic name for the group reflecting its ambitious strategic objectives.”