One of the world’s largest hearing aid retailers plans to bring a top manufacturer under its roof in a major acquisition that aims to build a vertically integrated global player in the growing sector.
Amplifon has outlined plans to buy the entire hearing business of GN Store Nord in a deal valued at 2.3 billion euros, or about $2.64 billion.
With closure expected by the end of this year, Denmark-based GN will exit the healthcare space and will focus fully on professional and consumer audio-video gear—with its multiple brands spanning earbuds, headphones and speakers, among other products.
Meanwhile, from its home in Milan, Amplifon said it plans to preserve GN Hearing’s unique identity and recognition while becoming a combined company housing more than 20,000 employees, including 700 in R&D, and owning the rights to more than 2,800 patents.
“Today marks a turning point for Amplifon,” CEO Enrico Vita said in a statement. “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,” Vita added.
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The deal will include about 1.69 billion euros in cash plus 56 million shares of Amplifon stock, with GN to hold about a 16% stake in the future company.
In 2025, GN Hearing brought in about 1 billion euros in revenue, with about half coming from the Americas, plus 28% from Europe and 23% from the rest of the world. It maintains electronics manufacturing and assembly locations in Denmark, China and Malaysia, as well as a recently opened plant in the U.S.
Its portfolio includes its flagship medical brand ReSound in addition to retail and over-the-counter hearing aids sold under its Beltone and Jabra monikers. GN also offers its Danalogic consultancy for hearing care clinics.
It estimates it has sold more than 4 million hearing aids, and it logged 9% growth annually for the past three years as demand rises among an aging population.
“The new company has every chance to develop into an industry leader driving further innovation and success in hearing care,” said GN Store Nord CEO Peter Karlströmer. “For GN, this also creates an opportunity to further strengthen our position in the large and attractive audio and video peripherals markets.”
