Sonova to sell 2 non-core retail assets to Amplifon

According to the press release the step reflects the group’s strategy to focus on selected key markets. The closing of the transaction is subject to regulatory approval.

Furthermore, Sonova is engaged in negotiations regarding a potential sale of the AudioNova retail business in France to Amplifon and to focus on its existing business in this market, including the retail and professional audiological services network Audition Santé. The contemplated sale of AudioNova France is subject to a works council information and consultation procedure as well as other mandatory employee rights. Sonova announces that its overall retail strategy remains unchanged with professional audiological services representing a crucial pillar of the customer-focused corporate strategy and the Group’s vertically integrated business model.

The current business of MiniSom in Portugal is part of the Audionova distribution network and includes around 75 stores and shop-in-shop locations. Together with the around 55 stores of AudioNova in France, the two businesses generated annual sales of over EUR 25 million. Given the timing of the announcement, the potential sale of the two businesses is not expected to have a material effect on the results of the current fiscal year.