Amplifon, the world leader in hearing solutions and services, has finalized theacquisition di Hearing Instruments e Precision Hearing Aid. These two American companies were owned by one of the major franchisees of Miracle-Ear, which operates around 35 stores in the United States, the world's largest hearing aid market.
35 stores in Pennsylvania, 20 million turnover
Amplifon has acquired stores located in Pennsylvania that produce a annual revenue of approximately 20 million dollars and employ approximately 80 people. These stores operated under the Miracle-Ear brand, which Amplifon uses for its retail in the United States, both through direct and franchised stores.
The acquisition brings the Miracle-Ear network in the United States to approx 400 direct sales points, adding to the over 1.200 franchised stores. In 2023, the Americas (United States, Canada and Latin America) generated over 400 million euros in revenues for Amplifon, approximately 20% of the Group's total, through approximately 1.900 points of sale.
Following this acquisition, the Miracle-Ear network in the United States reaches approximately 400 direct sales points, in addition to over 1.200 franchised stores. In 2023, the Americas (United States, Canada and Latin America) surpassed the 400 million euros in revenues in the history of Amplifon (around 430 million euros, corresponding to around 20% of the Group's total) through around 1.900 sales points.
The integration of the acquired group with Miracle-Ear's existing direct network will allow Amplifon to exploit greater scale, creating new opportunities to pursue excellence and innovation in the service offered to customers, benefiting both the direct and all franchisees.
Vita, CEO Amplifon: "we want to increase our presence in the USA"
"This second acquisition in the United States from early 2024, combined 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. We want 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", commented Henry Life, Chief Executive Officer of Amplifon.
