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Hearing aid retailer Bay Audio sold to Amplifon for $550m
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The worldâs largest hearing aid retailer knows a good deal when it hears one, snapping up local company Bay Audio for $550 million.
Founded in 2007 as a joint venture between audiologist and entrepreneur Peter and Anya Hutson and New Zealandâs Abano Healthcare Group, Bay Audio operates a network of over 100 âpoints-of-saleâ shops, located in high-traffic shopping malls across the east coast of Australia.
Hearing aid clinic operator Bay Audio has been sold to an Italian-British giant.Â
Matt Harvey
The relationship between the Hutsons and Abano soured in 2013 when Archer Capital and teamed up with Hutson (who was also a director in Abano and held about a 15 per cent stake in the business) to lob a takeover bid for Abano.
Amplifon enters agreement to acquire Bay Audio for $402m retail-insight-network.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from retail-insight-network.com Daily Mail and Mail on Sunday newspapers.