Danish enterprise seizes control of the hearing aid industry's supply chain
Grab your popcorn, folks! The renowned Danish hearing aid company, Demant, has just made a gigantic move, buying over the German family-owned hearing aid retailer, the Kind Group, for a whopping €700 million!
This acquisition is about to shake things up on the German market. Demant aims to boost its presence in the country where Kind ranks as one of the major providers, with around 600 branches under its belt.
Expect some fireworks in the second half of the year, as the takeover is planned to be finalized once all regulatory approvals are in the bag. The Kind Group's name will stay put after the takeover, but don't worry - the previous owning family will be riding off into the sunset, putting an end to their three-generation legacy.
Alexander Kind, CEO and the man behind the group since his father Martin Kind stepped back, had this to say, "With Demant as our new partner, we’re ready to continue our journey and make our mark as a leading force on the German hearing care market."
For Demant, this is their biggest acquisition yet, putting their branch network worldwide at over 4,500 locations, making them a true heavyweight in the industry. In Germany, they're currently rocking approximately 300 branches, but with Kind on board, they're set to take the crown as the undisputed number one.
The Kind Group, originally build by Martin Kind in the 1970s, boasts around 3,000 employees worldwide, with most of them based right here in Germany. They're established in 12 countries, but with Demant leading the way, they're poised to take their game to the next level.
[1] ntv.de
[2] mau/dpa
[3] Danish hearing aid giant Demant acquires German hearing aid retailer KIND Group for €700 million
[4] Demant Acquires German KIND Hearing Aid Retailer for €700 Million to Boost Presence, Gain Distribution Network
[5] Demant Acquires KIND Group to Expand Presence and Consolidate Partnerships in Germany and Worldwide
Categories:- Acquisitions- Business- Economy- Healthcare- Hearing Aid Industry- Mergers- Germany- Denmark- Family Businesses
- With the acquisition of the Kind Group, Demant is not only strategically expanding its employment policy but also boosting its finance sector, aiming to become the undisputed number one in the German hearing care market.
- This mega-deal between Demant and the Kind Group is expected to create employment opportunities for many, as the combined workforce will surpass 7,500 worldwide, promising significant growth in the hearing aid industry, particularly in finance and healthcare sectors.
