Italian hearing aid retail network Amplifon and Danish company GN have announced that Amplifon will buy GN Hearing for A$3.7 billion with the deal expected to be completed by the end of 2026.
The deal will create a new vertically integrated group spanning manufacturing and retail distribution, the companies said in media releases on 16 March 2026.
Amplifon said it was “the most transformative acquisition in our 75-year-long history, that will fundamentally change the future of the hearing care industry worldwide”.
GN said the combination would create “the industry leader in hearing care solutions and services worldwide with benefits to audiologists, consumers and investors”.
Amplifon said the new group would have combined revenues of about A$5.37 billion and would form a global powerhouse uniquely positioned to accelerate innovation.
Amplifon, which says it is the world’s largest hearing aid retail network, has more than 10,000 stores globally including more than 350 in Australia. GN Hearing manufactures hearing aids with key brands including ReSound.
Amplifon said it had agreed to buy the hearing business of GN Store Nord for 2.3 billion euros (A$3.7 billion) in a deal that would “create a global integrated leader in audiology”.
GN’s media release said it had entered into a definitive agreement for the sale of GN’s hearing business to Amplifon S.p.A. (“Amplifon”).
GN Hearing ANZ: Business as usual
GN Hearing ANZ told Hearing Practitioner Australia that its message to its customers was:
“It remains business as usual for us at GN. This new set‑up is intended to further strengthen the focus on innovation and product development, while continuing to serve the entire market with the same neutrality and high standards as today.
“Our services to our customers will continue to be uninterrupted – the people, products and services received from us, and all agreements stay fully intact.”
GN said the transaction valued GN’s hearing business at $3.7 billion (DKK 17 billion) on a cash-free and debt-free basis and would be settled with $2.74 billion (DKK 12.6 billion) in cash and 56 million shares in Amplifon.
“The transaction is subject to customary regulatory approvals and completion of the hearing business separation from GN and is expected to complete by the end of 2026,” GN said.
“Amplifon and GN will together create a global integrated leader in audiology combining hearing technology leadership with high-quality, innovative hearing care to offer comprehensive solutions to both audiology professionals and patients.
“The combination will create the industry leader in hearing care solutions and services worldwide with benefits to audiologists, consumers, and investors.
“As the proceeds from the transaction is larger than GN’s net interest-bearing debt, GN expects to use the proceeds to 1) significantly reduce debt, 2) invest in the ongoing business to support sustainable and profitable growth as well as 3) returning capital to shareholders, subject to applicable law and in line with the dividend policy.”
Global leader in audiology
Mr Peter Karlströmer, GN Store Nord CEO said: “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.”
Mr Enrico Vita, Amplifon CEO said: “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.
“At a time of significant technological advancements, this combination positions us to set new and higher standards in the audiology industry and allows us to better capture the secular growth trends.
“By bringing together two highly complementary organisations, we will unlock significant value for shareholders also thanks to material synergies, create new opportunities for employees, and deliver more advanced solutions to customers, hearing care professionals and patients worldwide.
“Importantly, Amplifon will continue to preserve and enhance (GN) Hearing’s unique identity, heritage, and strengths, recognising its brand value, culture, and distinct capabilities as key contributors to the future success of the combined organisation.
“We look forward to working closely with the exceptional team at Hearing to improve hearing for millions of people globally.”
Ms Susan Carol Holland, Amplifon chairperson, said: “Today we celebrate the realisation of a dream that strengthens our ambition: to integrate technology and
innovation with our deep understanding of patients for the benefit of hearing care professionals and the people they serve with empathy and dedication.
“This milestone allows us to pursue even more effectively the mission with which my family founded Amplifon over 75 years ago, and has guided its growth ever since: to provide outstanding care to a growing number of people, helping them rediscover the full emotions of sound and live their lives to the fullest health for millions of people globally.”
As a direct consequence of the transaction, Hearing will be classified as discontinued operations, and associated assets and liabilities as held-for-sale, GN said.
GN focus on audio and video
GN said that after the transaction, it would focus to drive success in audio and video peripherals markets.
Mr Jukka Pekka Pertola, GN Store Nord chair said: “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.”
Karlströmer said: “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.”
“The newly vertically integrated group unites GN Hearing’s cutting-edge product innovation and Amplifon’s deep hearing care expertise to offer an unprecedented portfolio of comprehensive solutions for customers, hearing care professionals and patients worldwide,” Amplifon said.
