Amplifon, an Italian global hearing care company specializing in hearing solutions and audiology services, announced a definitive agreement to acquire GN Hearing, the hearing business of GN Store Nord, in a stock-and-cash transaction valued at approximately €2.3B. Under the agreement, GN will receive €1.69B in cash and 56M Amplifon shares. The transaction, approved by both companies’ Boards of Directors, is expected to close by the end of 2026 subject to regulatory approvals and completion of the GN Hearing carve-out.
Strategic Combination
The acquisition will combine GN Hearing’s product technology and manufacturing capabilities with Amplifon’s global hearing care network, creating a vertically integrated leader in audiology operating in more than 100 countries with over 20,000 employees and a strong R&D platform.
Susan Carol Holland, Amplifon Chairperson, said: “Today we celebrate the realization of a dream that strengthens our ambition: to integrate technology and innovation with our deep understanding of patients for the benefit of hearing care professionals and the people they serve with empathy and dedication. This milestone allows us to pursue even more effectively the mission with which my family founded Amplifon over 75 years ago, and has guided its growth ever since: to provide outstanding care to a growing number of people, helping them rediscover the full emotions of sound and live their lives to the fullest."
Enrico Vita, Amplifon CEO, said: “Today marks a turning point for Amplifon. We are announcing the most transformative acquisition in our 75-year-long history, that will fundamentally change the future of the hearing care industry worldwide and create significant and long-term value for all our stakeholders. With combined revenues of approximately €3.3 billion, a presence in more than 100 countries, a cutting-edge R&D platform, leading manufacturing capabilities, and an unparalleled commercial network, we will be forming a truly global vertically integrated leader in audiology.”
Peter Karlströmer, GN Group CEO, said: “We are today acting on an opportunity to create a global leader in hearing care together with Amplifon. Together we are well positioned to develop into an industry leader, driving further innovation and benefits to our industry.”
Financial Outlook
The combined group is expected to generate around €3.3B in revenue and approximately €830M in pro-forma adjusted EBITDA, with projected EBITDA synergies of €60–80M by 2029. The transaction will be financed through a mix of cash and shares, with GN becoming Amplifon’s second-largest shareholder after closing.