MILAN, ITALY — Global hearing care retailer, Amplifon announced Monday it has acquired a large franchisee of the Miracle-Ear brand in the United States. The purchase includes around 50 retail locations across four states.
The acquired business is made up of three companies – Hearing Pro Inc, Las Davis Enterprises Inc, and Miracle-Ear Centers of Arkansas LLC. Their combined network spans stores in Arkansas, Kansas, Illinois and Missouri.
With annual revenues around $20 million and approximately 85 employees, the franchisee represents one of Miracle-Ear’s bigger regional operators. Miracle-Ear is the main brand Amplifon utilizes to sell hearing aids directly to consumers in the US market.
“This transaction represents another important step in the journey to further accelerate our growth in the US market, the most important in the world. This acquisition is consistent with our US business model which is characterized by the development of a strong direct retail network in synergy with our long-standing proven franchise business”
–Enrico Vita, Amplifon’s Chief Executive Officer
The purchase enables Amplifon to expand its current network of company-owned Miracle-Ear stores. Combining the acquired franchisee with existing corporate locations will allow for greater scale and opportunities to improve customer service. This benefits both Amplifon’s direct retail business as well as its Miracle-Ear franchise partners.
Following the deal, Miracle-Ear’s company-operated retail footprint now includes around 350 stores, on top of over 1,200 franchise outlets. In total during 2022, Amplifon’s Americas business generated around €400 million in revenue through more than 1,800 points of sale. That represents close to 20% of the group’s total turnover.
Expanding Global Retail Presence
Headquartered in Milan, Amplifon is the global leader in hearing solutions and services. The company sells hearing aids through a mix of corporate stores and franchise partners across 25 countries.
Miracle-Ear is Amplifon’s main retail brand in America, offering hearing aids and care customized for each patient’s needs. With the aging US population, the hearing aid market is expanding rapidly. Independent audiologist offices still account for the majority of hearing aid sales, but retail chains are projected to gain ground.
Amplifon aims to leverage Miracle-Ear’s brand recognition and retail footprint to capture increasing consumer demand. At the same time, the company relies on its franchisees to expand local reach at lower cost compared to opening new corporate stores.
Acquiring leading franchise partners also allows Amplifon to gain more direct control in high-potential markets. As hearing care shifts toward consumer-focused retail models, this strategy gives Amplifon flexibility to tailor operations in each region.
With the major Miracle-Ear acquisition, Amplifon is positioned to accelerate US growth by merging corporate and franchise resources. The company will look to build on economies of scale and improved capabilities to better serve America’s expanding hearing aid market.
About Amplifon
Amplifon, global leader in the hearing care retail market, empowers people to rediscover all the emotions of sound. Amplifon’s more than 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 more than 2 billion euros, operates through a network of more than 9,300 points of sale in 25 countries and 5 continents.
Source: Amplifon
