Sonova Holding AG, a provider of hearing solutions based in Stäfa, Switzerland, has successfully completed the previously announced acquisition of AudioNova International BV (AudioNova), Europe’s second-largest retailer, after obtaining all the necessary regulatory approvals. AudioNova will be consolidated as of September 2016. The acquisition is expected to contribute CHF 210-220 million to Sonova Group sales and CHF 25-30 million to EBITA (before one-time costs) in FY 2016/17. Details of the purchase were covered in a May 4, 2016 Hearing Review online news article.
The combination of AudioNova and Sonova is said to create one of the broadest hearing aid retail service networks in Europe.
“The acquisition of AudioNova marks a milestone for Sonova, significantly expanding our business in the European hearing aid retail market,” said Lukas Braunschweiler, CEO of Sonova. “The combined strengths of our complementary retail networks help us to further advance our strategy of getting closer to our customers and 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 of 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. 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 of Corporate e-Marketing.
“We are in a position to start capitalizing on the benefits offered by this acquisition immediately, leveraging best practices, best brands, and product sourcing to continue to maximize growth across our retail business globally,” said Braunschweiler.