Wal-Mart completes purchase of German hypermarkert chain

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Wal-Mart Stores said Dec. 30 that it completed the acquisition of the Wertkauf hypermarket chain from the Mann family of Germany. The parties agreed not to disclose financial terms.

Wertkauf operates 21 hypermarkets, one-stop shopping centers that offer a broad assortment of upscale general merchandise and food. Wertkauf's annual sales are about $1.4 billion. The stores are similar to the Wal-Mart Supercenter format in the U.S. Prior to the acquisition, Wal-Mart operated 21 units in Germany.

Copyright December 1997, Crain Communications Inc.

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