MILAN, ITALY — Global hearing care provider Amplifon announced today the signing of a definitive agreement to acquire Audical Group, the predominant provider in the Uruguayan hearing care market. The acquisition marks Amplifon’s entry into its 26th country worldwide.
Founded in 1996, family-owned Audical Group operates 25 direct points of care under the Audical and Centro Auditivo brands. With over 130 employees, the group generated approximately €10 million in revenue in 2022 through its retail sites and distributors covering Uruguay.
“Our entry into Uruguay is the latest step growing our Americas footprint to seize opportunities in dynamic, underpenetrated hearing care markets. Acquiring Audical Group enables us to partner with an outstanding business that shares Amplifon’s commitment to service excellence and market leadership.”
–Enrico Vita, Chief Executive Officer of Amplifon
With a population nearing 3.5 million, Uruguay represents an attractive growth market, evidenced by Audical Group’s steady expansion over the past years. The transaction offers Amplifon strong in-country scale and brand recognition to serve rising consumer demand amid favorable demographic shifts.
Amplifon Americas Reaches 1,800 Points of Sale
Including the Audical Group deal, Amplifon now has operations in six Latin American countries — Argentina, Chile, Colombia, Ecuador, Mexico and Panama — in addition to the US and Canada.
In 2022, over 1,800 total points of care in the Americas generated around €400 million in revenue for Amplifon, constituting nearly 20% of group turnover. The region is central to the company’s global growth strategy going forward.
The transaction, anticipated to complete in January 2024 pending regulatory clearances, will further strengthen Amplifon’s position as the leading global hearing care retailer. Altogether Amplifon spans 26 countries through more than 9,500 total service points.
Vita emphasized Audical Group’s strategic fit with Amplifon’s culture and mission to foster wider accessibility to hearing solutions on a global scale.
About Amplifon
Amplifon, global leader in the hearing care retail market, empowers people to rediscover all the emotions of sound. Amplifon’s around 19,400 people worldwide strive every day to understand the unique needs of every customer, delivering exclusive, innovative and highly personalized products and services, to ensure everyone the very best solution and an outstanding experience. The Group, with annual revenues of over 2 billion euros, operates through a network of over 9,300 points of sale in 25 Countries and 5 continents.
Source: Amplifon
