GN Store Nord’s hearing business is being sold to Italian group Amplifon in a deal valued at DKK 17 billion (€2.28 billion), marking a major shift for one of Denmark’s best-known audio companies and reshaping the European hearing-care market.
The agreement would see Amplifon acquire GN’s hearing-aid division, known as GN Hearing, through a mix of cash and shares. The transaction includes DKK 12.6 billion (€1.69 billion) in cash and 56 million Amplifon shares, giving the Danish group a 16 percent stake in the Italian company after closing. The deal still requires regulatory approval and is expected to be completed by the end of 2026.
Why GN Store Nord is exiting hearing aids
For decades, GN Store Nord has been closely associated with hearing aids through brands such as ReSound and Beltone. Selling the division marks a strategic break with that legacy.
In its announcement, GN said the sale would allow the group to focus on its remaining businesses: GN Enterprise, which develops and sells audio and video equipment, and GN Gaming, which includes gaming headsets and related technology. Chief executive Peter Karlströmer said the company now wants to move into a new phase as a global technology group with a sharper focus.
GN also said part of the proceeds will be used to reduce debt, while additional funds will be directed toward investment in the remaining business. The move suggests a clearer concentration on consumer and professional audio technology rather than medical hearing devices.
What Amplifon gains from the GN Hearing deal
For Amplifon, the acquisition is a large step beyond its traditional role as a hearing-care retailer. The Italian company said the combination would create a more integrated global audiology player, linking research, product development, manufacturing and retail distribution more closely.
According to the companies, the combined business would generate about €3.3 billion in revenue, employ more than 20,000 people, and operate across more than 100 countries. Reuters reported that the acquisition would strengthen Amplifon’s position in the USA, currently the world’s largest hearing-aid market.
Amplifon also said it plans to preserve GN Hearing’s identity and capabilities within the enlarged group, while using the acquisition to strengthen innovation and long-term scale.
Investors welcomed the sale, but the market reaction was mixed
The first market response pointed to different investor expectations on the two sides of the deal.
GN Store Nord shares jumped by more than 30 percent after the announcement, with Danish media reporting gains of around 36 percent during Monday trading. Analysts cited by Danish and international outlets said investors appeared to welcome the price achieved by GN, particularly in relation to the group’s market value before the deal.
Amplifon’s shares, by contrast, fell sharply on the day of the announcement, with Reuters reporting a drop of up to 12 percent, reflecting concern among some investors about the size and cost of the acquisition.
A European industry deal with Nordic and Italian significance
The transaction is notable not only because of its size, but also because it links two major European companies in a sector shaped by ageing populations and rising demand for hearing care.
For Denmark, the sale means that a company long seen as a national reference point in hearing technology is stepping back from the business that helped define it. For Italy, it strengthens Amplifon’s role as a European-based player with a wider industrial footprint.
The final impact will depend on regulatory approval, the carve-out of GN Hearing from the wider GN Group, and the extent to which the new structure can deliver the scale and efficiencies both companies are promising. But the agreement already signals a broader shift: GN Store Nord is betting on audio, enterprise and gaming technology, while Amplifon is betting that tighter control of the value chain can turn it into a global leader in audiology.
