Amplifon acquires Bay Audio in Australia (and its 100 stores) – Corriere.it

Amplifon acquires Bay Audio in Australia (and its 100 stores) – Corriere.it

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Amplifon acquires Bay Audio in Australia (and its 100 stores) – Corriere.it

Amplifon goes shopping in Australia. The group specialized in hearing products and services has signed a definitive agreement for the acquisition of Bay Audio Pty, a primary operator in the retail market in Australia with a network of over 100 points of sale located in high-traffic shopping centers located on the coast eastern part of the country. The cash out amounts to 550 million Australian dollars, approximately 340 million euros, on a cash and debt free basis. In the fiscal year ended May 31, 2021, Bay Audio reported revenues of A $ 100 (€ 63 million) and a recurring EBITDA of over A $ 30 million (approximately € 20 million). In the 2016-21 period, the average annual growth in revenues was over 20%. Amplifon estimates synergies at the EBITDA level, starting from 2023, of 8 million Australian dollars (5 million euros).

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