Boss Danish Giant Demant Buys Hearing Aid Titan Kind for €700 Million
Danish firm gains control over hearing aid market's chain of supply
Are you hearing that? Industry behemoth Demant is snatching up German hearing aid powerhouse, Kind, for a staggering €700 million! The acquisition will significantly beef up Demant's presence in the competitive German market, where Kind reigns supreme with around 600 branches.
With the deal set to close in the second half of the year, Kind will retain its name but say goodbye to its founding family. Kind's CEO, Alexander Kind, eagerly anticipates the merger, believing it solidifies their position as the boss in the German hearing healthcare industry.
The acquisition is Demant's largest ever, bolstering their global network to more than 4,500 locations worldwide, and making them the undisputed number one in Germany with over 900 branches. Demant's CEO, Søren Nielsen, applauded the shared values and synergy between the companies, hailing their combination as a "unique strategic fit."
Kind, initially founded by the Kind family in 1952, has carved out a strong reputation for its customers-first, family-oriented hearing care. Over the past two decades, Kind has boasted Demant's hearing aid brands such as Oticon and Bernafon in its clinics. Now, as part of Demant's empire, Kind's 3,000 employees will continue to serve millions of people, offering personalized care and state-of-the-art hearing solutions.
So, if you need assistance with your hearing, you're in good hands with Demant and Kind!
Sources:1. ntv.de2. mau/dpa3. GlobalNewswire4. PRNewswire
- Hearing Aids
- Takeovers and Mergers
- Germany
- Denmark
The acquisition of Kind by Demant will create a formidable force in the German hearing aid market, with a combined workforce of over 7,500 employees dedicated to providing personalized care and top-tier hearing solutions. This union, driven by shared values and synergy, could potentially influence future employment policies and finances within the hearing healthcare industry.
