Amplifon, an Italian hearing care company, announced theacquisition of the business of one of the main franchisees of Miracle-Ear in the United States, the largest market in the world.
The company has acquired a network made up of three companies (Hearing Pro Inc, Las Davis Enterprises Inc and Miracle-Ear Centers of Arkansas LLC), which operates approximately 50 stores in four states (Arkansas, Kansas, Illinois and Missouri). These companies register a Annual turnover of approximately 20 million dollars and employ approximately 85 people.
Miracle-Ear is the brand through which Amplifon operates in the United States retail market, both through direct stores and in franchising.
Consolidate the presence of the United States
The acquisition is part of Amplifon's strategy for consolidate its presence in the main world market. By integrating the acquired network with Miracle-Ear's direct network, Amplifon aims to accelerate development in the United States, leveraging greater scale and creating opportunities for excellence and innovation in the services offered to clients.
Il Miracle-Ear network now includes around 350 direct sales points, adding to the over 1.200 franchised stores. Overall, the Americas contributed approx 400 million euros in revenues in 2022, representing approximately 20% of the Amplifon Group's total, through over 1.800 sales points.
Vita, CEO Amplifon: “Further step for growth in the American market”
“This acquisition is a new important step in the path of further acceleration of ours growth in the American market, the most important in the world. The operation fits perfectly into our business model in the United States, characterized by the development of an important network of direct stores that operates in synergy with our historic and proven franchising business" he commented Henry LifeCEO Amplifon.
