Wal-Mart entered the German market in 1997 through the acquisition of wholly owned subsidiaries, specifically with the purchase of 21 existing Wertkauf stores, as well as 74 Interspar hypermarkets in 1998. While this entry mode has proven to be a preferred method within Wal-Mart’s expansionary strategy, in this particular case, the selection of the German market resulted in few options of existing stores to take over. “Because the leading food chains in Germany are privately held, there were no opportunities for hostile takeovers as there would be in the Anglo-American markets. In order to enter the market Wal-Mart was forced to purchase the two relatively weak chains, Interspar and Wertkauf” (Christopherson 459). While the acquisition of these two chains gave Wal- Mart an entry into the market, it represented only a 3% share of the German retail market sector, placing them 11th in overall retail sales. However, according to Christopherson (2007) the German grocery sector of the retail market is concentrated within the top 5 companies, which account for almost 80% of all sales. Ultimately, providing Wal-Mart with a rather weak position to begin their operations within Germany.