Amplifon, a global provider of hearing solutions and services, acquired the business of one of the main Miracle-Ear franchisees in the United States.
The network, owned by three companies (Hearing Pro Inc., Las Davis Enterprises Inc., and Miracle-Ear Centers of Arkansas LLC), comprises around 50 points of sale located in four States (Arkansas, Kansas, Illinois, and Missouri) with annual revenues of around 20 million dollars and circa 85 employees. Miracle-Ear is the brand through which Amplifon operates in the U.S. retail market via corporate stores and shops in franchising.
“This transaction represents another important step in the journey to further accelerate our growth in the US market, the most important in the world. 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,” says Enrico Vita, Amplifon’s CEO.
The transaction fits into Amplifon’s strategy of strengthening its position in the U.S. market. The combination of the acquired business with Miracle-Ear’s current direct retail network will enable the company to further accelerate its development in the U.S., the company says.
After this acquisition, Miracle-Ear network reaches around 350 direct retail points of sale, in addition to the over 1,200 franchise locations.
Further reading: Amplifon and Miracle-Ear Recognized as Top Employers in North America
Photo: Amplifon
