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Amplifon, the largest hearing aid distributor in the world and parent company of Miracle-Ear, has announced the completion of its acquisition of one of the company’s largest Miracle-Ear franchisees.
Consisting of three companies—Hearing Pro Inc., Las Davis Enterprises Inc., and Miracle-Ear Centers of Arkansas LLC—the franchise network has approximately 50 points of sale in Arkansas, Kansas, Illinois, and Missouri. This group reportedly accounts for annual revenues of around $20 million dollars and employs about 85 people.
Amplifon maintains U.S. headquarters in Minneapolis, and its global headquarters are in Milan, Italy. After this acquisition, the Miracle-Ear network will be made up of about 350 corporate-owned retail points of sale, in addition to over 1,200 franchise locations. Amplifon Americas generates about one-fifth of the company’s revenues—about 400 million euros (approximately US$435 million) in 2022—through over 1,800 points of sale.
“This transaction represents another important step in the journey to further accelerate our growth in the US market, the most important in the world,” said Amplifon CEO Enrico Vita, in a press statement. “This acquisition is consistent with our US business model which is characterized by the development of a strong direct retail network in synergy with our long-standing proven franchise business.”
According to Amplifon, the transaction perfectly fits with the company’s strategy aimed at further strengthening its position in the main market in the world: the combination of the acquired business with Miracle-Ear’s current direct retail network will enable it to further accelerate development in the US, leveraging on added scale and creating new opportunities to pursue excellence and innovation in the service offered to its customers, for the benefit of both the direct business and franchising partners.
