(Finance) – Amplifona leading hearing solutions company that is part of the FTSE MIB, has completed the acquisition of Hearing Instruments and Precision Hearing Aidtwo companies owned by one of Miracle-Ear’s main franchisees which own approximately 35 stores in the United States, the largest hearing care market in the world.
The acquired stores are located in Pennsylvania, generate a annual turnover of approximately 20 million dollars and employ around 80 people. Miracle-Ear is the brand through which Amplifon operates in the United States retail market, through direct and franchising stores.
“This second acquisition in the United States from the beginning of 2024combined with the solidity of our franchisee network, confirms our strategy to further accelerate Amplifon’s growth in the most important market in the world in our sector – commented theCEO Enrico Vita – We want to increase our presence in the country and guarantee an excellent service to an ever-increasing number of people thanks to our successful business model, based on the development of an important network of direct stores that operates in perfect synergy with our strategic and proven franchising network”.
Following this acquisition, the Miracle-Ear network in the United States reaches approximately 400 direct sales points, in addition to the over 1,200 franchised stores. In 2023, the Americas (United States, Canada and Latin America) exceeded 400 million euros in revenues for the first time in Amplifon’s history (around 430 million euros, corresponding to around 20% of the Group’s total) through approximately 1,900 points of sale.