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GN ReSound and KIND Hörgeräte enter strategic partnership
KIND will appoint GN ReSound as a global core supplier and partner in further expanding its business globally. KIND will take over the 27 retail shops currently owned by GN ReSound in Poland. Closing of the transaction is expected by the end of August 2009 after necessary approvals and carve-out.
Head of KIND Hörgeräte, Dr. Alexander Kind, said: "We will leverage our highly professional retail experience and systems along with the skilled staff of GN ReSound to further strengthen and grow our presence in the growing and emerging Polish hearing instrument market. This agreement will immediately make KIND the 3rd largest hearing instrument retailer in Poland with a total of 36 shops."
CEO of GN ReSound, Mike van der Wallen, said: "Our ambition is to make GN ReSound hearing instruments available to more end users all over the world. We want to work with the best in the industry. The partnership with KIND is a great fit with this ambition, as it further strengthens our position as the partner of choice for the leading retailers. We look forward to supporting KIND Hörgeräte with innovative hearing solutions in the years to come."
GN ReSound is a global innovator, manufacturer, and distributor of hearing instruments with leading positions across the globe.
With 550 shops KIND combines customer-focused service offerings, innovative products and the highest quality standards making it one of the leading hearing care professionals in Europe. KIND is the leading hearing retailer in Germany, which is currently the second largest market for hearing instruments in the world. KIND has an expanding presence in a total of 14 countries. In addition, KIND is a manufacturer and global distributor of hearing instruments through its Audifon subsidiary.
The announced agreement is not expected to have material impact on GN ReSound's financial results for 2009.
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