Amplifon flies to Piazza Affari after the announcement of the "landing" in Uruguay through the acquisition of the Audical group. As of mid-afternoon, the stock of the company active in hearing care services and solutions is at the top of the Ftse Mib with a increase of over 4% which brings the shares above the psychological threshold of 30,65 euros, the highest level since September 22nd.
Amplifon enters Uruguay and acquires Audical
Through a note, Amplifon announced that it has signed a binding agreement that will allow the company to enter Uruguay thanks to the acquisition of the Audical Group, the main national operator in the hearing care sector. The transaction is expected to close in January 2024.
The Audical network, with the Audical and Centro Auditivo brands, is made up of 25 direct sales points and various distributors present throughout the territory, it has an annual turnover of around 10 million euros, which has continuously grown in recent years, and around 130 employees and collaborators. The Audical Group, a family-controlled company active since 1996, has long been a market leader in Uruguay.
“The entry into Uruguay – he comments Enrico Vita, CEO of Amplifon – is a new stage in our internationalization and growth path in the Americas, an area that will be central to Amplifon's future development. With this operation, we have seized the opportunity to acquire an excellent company that shares with Amplifon the leadership of its reference market and essential values such as attention to the customer and quality of service".
With the entry into Uruguay The countries in which Amplifon operates rise to 26 worldwide, for a total of over 9.500 points of sale. In the Americas, the Amplifon group is already active in six Latin American states (Argentina, Chile, Colombia, Ecuador, Mexico and Panama) with the Gaes brand, as well as in the United States and Canada, the two main markets in the area .
The Americas generated overall annual revenues of approximately 400 million euros in 2022 (approximately 20% of the Amplifon Group's total) through over 1.800 points of sale.
The transaction is expected to close in January 2024.
