Finance
by Finance Editorial Staff
New operation by the Italian group: now a total of 400 direct sales points in the USA, in addition to the over 1,200 franchised stores
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Amplifon is still growing in the United States. The group has completed the acquisition of Hearing Instruments and Precision Hearing Aid, two companies owned by one of the main Miracle-Ear franchisees which own approximately 35 stores in the US.
The acquired stores are located in Pennsylvania, generate annual revenue of approximately $20 million and employ approximately 80 people. Miracle-Ear is the brand through which Amplifon operates in the United States retail market, through direct and franchising stores. Following this acquisition, the Miracle-Ear network in the United States reaches approximately 400 direct sales points, in addition to over 1,200 franchised stores. In 2023, the United States, Canada and Latin America reached 430 million euros in revenues (approximately 20% of the group total).
«This second acquisition in the United States from the beginning of 2024, combined with the solidity of our franchisee network, confirms our strategy to further accelerate Amplifon’s growth in the most important market in the world in our sector», says Enrico Vita, CEO of Amplifon . «We want to increase – he adds – our presence in the country and guarantee an excellent service to an ever-increasing number of people thanks to our successful business model, based on the development of an important network of direct stores which operates in perfect synergy with the our strategic and proven franchising network.”
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