Amplifon Signs €1.35B Senior Loan to Help Finance GN Hearing Acquisition
The financing follows Amplifon’s earlier equity raise and supports the cash portion of its planned GN Hearing purchase, which is expected to close by the end of 2026.Staff
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Amplifon, the parent group of Miracle-Ear and the world’s largest hearing aid retailer, has signed a €1.35 billion senior loan agreement to help fund its planned acquisition of GN Hearing, marking another step toward completing one of the hearing industry’s largest recent transactions.
The Milan-based hearing care retailer said the financing was arranged with a group of major financial institutions and will support the cash component of the GN Hearing acquisition, including related transaction costs. The loan follows Amplifon’s equity raise completed on May 22 and is tied directly to the company’s proposed purchase of GN Hearing, the parent company of ReSound, Beltone, and Jabra Enhance.
Amplifon said the senior loan has a maximum duration of 24 months, including an extension option, and is subject to terms and conditions consistent with comparable market transactions.
Amplifon first announced the proposed acquisition of GN Hearing on March 16, 2026. The deal, valued at approximately €2.64 billion, would bring one of the world’s largest hearing aid manufacturers under the ownership of the world’s largest hearing care retailer, creating a vertically integrated business with significant implications for the global hearing aid market.
HearingTracker has previously covered the transaction in detail, including the original announcement of the €2.64 billion acquisition agreement, the potential impact on the U.S. hearing aid retail landscape, and an interview with GN CEO Peter Karlströmer, who says that the two companies are “creating an even stronger company.”
The financing was arranged by a broad pool of banks. Goldman Sachs Bank Europe SE and J.P. Morgan SE acted as global coordinators, while Goldman Sachs Bank Europe SE, J.P. Morgan SE, Banco BPM, BNP Paribas, CaixaBank, Cassa Depositi e Prestiti, Crédit Agricole Corporate and Investment Bank, Deutsche Bank Luxembourg, HSBC Continental Europe, ING Bank, Intesa Sanpaolo, Mediobanca, and UniCredit served as mandated lead arrangers and bookrunners. UniCredit is also acting as a facility agent.
White & Case advised Amplifon on the financing, while Clifford Chance advised the pool of banks.
According to Amplifon, closing remains expected by the end of 2026, subject to customary conditions and regulatory approvals.
HearingTracker Staff