Amplifon acquires the Kind network in Poland and doubles its presence in the country
THE GROUP BECOMES ONE OF THE LEADING PLAYERS IN THE MARKET WITH MORE THAN 230 STORES
Amplifon (EXM; Bloomberg: AMP:IM; Reuters: AMPF.MI), the global leader in hearing healthcare services and solutions, announces that it has completed the acquisition of the entire share capital of KIND Aparaty Słuchowe, the Polish subsidiary of the German group KIND, active in the hearing healthcare retail sector.
In detail, Amplifon has acquired a network of more than 120 points of sale, evenly divided between direct street stores and satellite (part-time) stores, which is fully complementary to the Group's current presence in the country, characterized by approximately 115 direct shops. The annual turnover of the acquired business is approximately €10 million. The acquired stores will be gradually integrated into the Group's network and will operate under the Amplifon brand.
“Thanks to this transaction - commented Amplifon CEO Enrico Vita - we have seized the opportunity to double our presence in Poland, with more than 230 points of sale, and to become one of the main players in the fastest growing market in Central and Eastern Europe. We are delighted to welcome our new colleagues to the Amplifon Poland team and to be able to offer our highly personalized hearing care services to an increasing number of people in Poland.”.
Poland is part of Amplifon's EMEA region, the Group's largest in terms of sales, with around 6,700 stores in 13 countries. In total, the group now operates in 26 countries worldwide with a network of more than 10,000 points of sale.
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