Italy-based Amplifon, the world’s largest hearing aid retailer, has entered into a definitive agreement to acquire Danish GN Store Nord’s Hearing division (GN Hearing) in a transaction valued at approximately €2.3bn ($2.6bn) on a cash-free and debt-free basis.
The deal, which both companies’ boards have approved, will see GN receive €1.69bn ($1.95bn) in cash and 56 million Amplifon shares at closing.
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Completion is anticipated by the end of 2026, subject to regulatory approvals and the carve-out of GN Hearing from the GN Group.
The combined entity is expected to operate across more than 100 countries, employing over 20,000 staff members and generating estimated annual revenues of roughly €3.3bn ($3.8bn).
It will bring together over 700 research and development professionals and hold more than 2,800 patents.
Amplifon will retain the unique identity and strengths of GN Hearing, including its brands such as ReSound and Beltone, as well as its intellectual property, manufacturing operations, and existing network partnerships.
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By GlobalDataFollowing the transaction, GN Store Nord will concentrate on audio and video peripherals markets while using proceeds larger than its net interest-bearing debt to reduce liabilities, invest further in its ongoing business, and return capital to shareholders in accordance with its dividend policy.
GN is set to hold around 16% of Amplifon’s share capital once the deal completes, subject to agreed lock-up periods.
Prior to closing, GN will separate its Hearing division via a statutory demerger under Danish law.
After completion, certain shared services will continue temporarily through transitional agreements.
GN Store Nord CEO Peter Karlströmer said: “We are today acting on an opportunity to create a global leader in audiology together with Amplifon. The new company has every chance to develop into an industry leader driving further innovation and success in hearing care.
“For GN, this also creates an opportunity to further strengthen our position in the large and attractive audio and video peripherals markets.”
The deal is expected to create an integrated global audiology business combining Amplifon’s hearing care services with GN’s hearing technology expertise.
The combined company aims to meet increasing demand for hearing solutions among professionals and patients worldwide.
