Sonova completes acquisition of AudioNova

AudioNova will be consolidated as of September 2016. The acquisition is expected to contribute CHF 210-220 million to Group sales and CHF 25-30 million to EBITA (before one-time costs) in FY 2016/17. The combination of AudioNova and Sonova creates one of the broadest hearing aid retail service networks in Europe. AudioNova is one of the leaders in the distribution of hearing aids in Europe, with more than 1,300 centers in eight different countries.

Lukas Braunschweiler, CEO of Sonova, says: “The acquisition of AudioNova marks a milestone for Sonova, significantly expanding our business in the European hearing aid retail market. The combined strengths of our complementary retail networks help us to further advance our strategy of getting closer to our customers and of providing best-in-class professional audiological services. We are pleased to welcome our over 2,750 new colleagues from AudioNova and are convinced that our shared vision will facilitate a smooth integration. Together we are well positioned to continue to shape our industry to the benefit of our customers.”

AudioNova and Sonova’s Connect Hearing business will be merged into one global Sonova retail business under the leadership of a soon to be appointed Group Vice President Retail and serviced by a global Support Center in Rotterdam (NL). Until the new executive is on board, Frank van der Vis (CEO of AudioNova) and Lukas Braunschweiler (CEO of Sonova) will jointly lead the global retail business ad interim. Frank van der Vis will remain with the company until November 1, 2016, ensuring a smooth transition. Franz Petermann will continue in his role as Global Vice President Corporate e-Marketing.

Source: Sonova