Amplifon takes another step toward the acquisition of Gn Hearing.The board of directors, meeting in extraordinary session, resolved to convene the members to approve thecapital increase reserved for Gn Store Nord, destined to become a shareholder of the Italian group with a stake of approximately 17%. The operation, already foreseen in theagreement announced on March 16, will be accompanied by an update on the composition of the board and by interventions on the corporate structure. The date of the meeting has yet to be set..
Capital increase of 56 million shares and new governance
The proposal that will be presented to the extraordinary meeting includes the issuing of 56 million new ordinary shares, excluding the option right, reserved for subscription to Gn Store Nord. The increase is intended to service the acquisition of the entire Hearing division of the Danish group. The new shares will represent approximately 17% of the share capital and will lead Gn Store Nord to become Amplifon's second largest shareholder. This move follows the structure of the agreement announced in March, which provides for a total acquisition price of approximately 2,3 billion euros, consisting of a cash component and an equity component.
The board has entrusted the chairman and the chief executive officer, jointly, with the task of setting the date of the meeting, scheduled for the first and only call.
Gn's entry into the shareholding will have a also reflected in governance. The shareholders will be asked to nominate Scott Davis to represent GN on the board of directors, subject to the completion of the acquisition. The meeting will also be called to confirm the appointment of Francesca Fiore, already co-opted to the board. The agenda also includes some amendments to the bylaws, aimed at aligning them with the provisions introduced by the reform of the Consolidated Law on Finance.
The proposals to the members also include the final approval of the partial demerger by spin-off announced on July 30, 2026, with which Amplifon aims to streamline its corporate structure. The transaction involves the transfer of Amplifon's stakes in wholly-owned subsidiaries located outside the European Union to a new Italian company. The beneficiary, called Amplifon Partecipazioni I, will in turn be entirely controlled by the group.
Why Gn Hearing is changing the Amplifon model
The acquisition, which is expected to be completed by the end of 2026, marks an industrial and technological turning pointAmplifon's distribution network and audiological services will be complemented by GN Hearing's expertise in research, microchip design, and hearing aid production. The group will thus be able to manage the entire supply chain, from device development to in-clinic support.
“The key factor is that we will combine the role of value-added service providers with that of device designers and manufacturers,” explained the CEO. Enrico Vita.
Gn Hearing will bring four research centers, approximately 700 researchers and nearly 3 patents. The combination will create a reality with approximately 3,3 billion euros of aggregate revenues, over 20 employees and a presence in over one hundred countries. Retail will remain the core business, accounting for approximately 70% of revenues, but Amplifon will be able to directly produce a growing share of the devices sold in its network. The group expects this integration to generate net EBITDA synergies of between 60 and 80 million euros per year, fully operational by the end of 2029.
