Network acquired posts about 20 mln usd in annual revenue (Il Sole 24 Ore Radiocor) - Milan , 29 Apr - The Italian hearing aid retailer Amplifon said it has acquired Hearing Instruments and Precision Hearing Aid, two companies owned by one of the main Miracle-Ear franchisees with around 35 points of sale in the US, the largest hearing care market in the world.

Financial details of the acquisition were not disclosed.

The network, which is located in Pennsylvania, generates annual revenues of around 20 million dollars and employs approximately 80 people. Miracle-Ear is the brand through which Amplifon operates in the US retail market via direct stores and shops in franchising.

'This second acquisition in the United States since the beginning of 2024, alongside the strength of our franchisee network, reaffirms our strategy to further accelerate Amplifon's growth in the most important market in our industry globally. We aim to expand our presence in the country and provide an excellent service to an increasing number of people. Our successful business model in the US relies on the development of a strong direct retail network in synergy with our long-standing proven franchise business,' said Enrico Vita, CEO of Amplifon.

Following this acquisition, the Miracle-Ear network in the US reaches around 400 direct points of sale, in addition to the over 1,200 existing franchised stores.

AAA-Hob

(RADIOCOR) 29-04-24 09:43:07 (0146) 5 NNNN