Amplifon announced that it has entered into a definitive agreement to acquire the Hearing business of GN Store Nord A/S in a transaction valued at DKK 17.0 billion (about $2.6 billion) on a cash-free and debt-free basis. The deal will be settled with DKK 12.6 billion in cash and 56 million shares in Amplifon, giving GN an approximately 16% stake in Amplifon after the transaction closes.
The acquisition is expected to create a vertically integrated global leader in audiology by combining Amplifon’s hearing care retail network with GN’s hearing technology and manufacturing capabilities. The combined company will have roughly €3.3 billion in revenue and operations spanning more than 100 countries.
GN’s Hearing division includes approximately 5,500 employees worldwide along with well-known brands such as ReSound and Beltone. The business also includes the associated intellectual property, research and development, manufacturing, and operational infrastructure supporting its hearing product portfolio.
According to the announcement, the transaction will allow GN to focus on its audio and video peripherals businesses, including enterprise and gaming products. GN said the proceeds from the sale will exceed its net interest-bearing debt, allowing the company to reduce leverage, invest in its remaining operations, and potentially return capital to shareholders.
The deal is subject to regulatory approvals and the completion of a carve-out separating the Hearing business from GN, including a statutory demerger under Danish corporate law. The companies expect the transaction to close by the end of 2026.
GN said the Hearing business generated revenue of DKK 7,214 million in 2025 and reported pro-forma EBITDA of DKK 1,185 million.
KEY QUOTES:
“We are excited to transform GN into a pure technology company. We have unique positions and capabilities making us well positioned to further grow in the large audio and video peripherals market in a focused way. While we will miss all of our great employees in Hearing, we are proud that we, together with Amplifon, will create an industry leading player in global audiology. We are convinced that the transaction and steps ahead will be beneficial to our customers, employees and investors.”
GN Store Nord Chair Jukka Pekka Pertola
“We are today acting on an opportunity to create a global leader in audiology together with Amplifon. The new company has every chance to develop into an industry leader driving further innovation and success in hearing care. For GN, this also creates an opportunity to further strengthen our position in the large and attractive audio and video peripherals markets. We have unique brands, talents, and capabilities and a rich set of opportunities. We have in the last few years strengthened GN significantly financially and operationally. As we open up this new chapter, we are focused on driving success as an innovative technology company with global reach and scale. This is very exciting for GN’s customers, employees, and investors.”
GN Store Nord CEO Peter Karlströmer
“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. Importantly, Amplifon will continue to preserve and enhance Hearing’s unique identity, heritage, and strengths, recognizing its brand value, culture, and distinct capabilities as key contributors to the future success of the combined organization. We look forward to working closely with the exceptional team at Hearing to improve hearing health for millions of people globally.”
Amplifon CEO Enrico Vita
