Amplifon acquires thirty stores in Germany

Market

The headquarter of Amplifon Germany in Hamburg© DR

Amplifon announced today the purchase of 30 stores in northeastern Germany from a private party through the subsidiary Amplifon Deutschland.

The stores acquired, which in 2014 posted sales of slightly more than 6 million euros, currently operate under the brands Hörgeräte Böckhoff, Wilhelm Böckhoff GmbH (27 stores), Steinmeier KG (2 stores) and Steinmeier Akustik und Optik GmbH (1 store).

The acquisition, will be effective from September 1 and bring the total number of stores managed by Amplifon in the German market to 257.

“With the agreement signed in the past few days, we are taking another significant step to further pursue the Group’s growth strategy, consolidating our market share in Germany, one of the most important markets in the world”, Franco Moscetti, Amplifon’s Chief Executive Officer commented. “ We are convinced that we will be able to develop ample synergies with the existing network, including in terms of marketing, and to further increase profitability in the German market”.

Source: Amplifon