Demant has signed an agreement to acquire KIND Group, one of the world’s leading retailers of hearing aids with around 650 hearing care clinics, for a total consideration of EUR 700 million (around DKK 5.2 billion).

The transaction of Kind Group will be Demant’s largest-ever acquisition and will expand the Group’s global Hearing Care business to comprise more than 4,500 clinics worldwide.

Since its foundation in 1952 by the Kind family, KIND has become a leading provider of hearing care in Germany, with activities in several other countries, based on an ambition to offer high-quality expert service and improve the quality of life of hearing-impaired people.

Demant shares this ambition of improving the lives of people living with hearing loss with its purpose to create life-changing differences through hearing health. KIND’s strong culture and set of values developed through decades of family ownership aligns well with the culture and values of Demant, also a family-founded business, which is majority-owned by William Demant Foundation.

“It’s with pride and excitement that we announce this historic agreement for Demant and KIND. Our shared values of trust, care and innovation match perfectly, and the combination of KIND’s strong brand and proven track record with Demant’s state-of-the-art technology, global scale and experience in providing hearing care is a unique strategic fit. The further expansion of our global network of hearing care clinics is explicitly related to our ambition to improve as many lives as possible. This expansion of our hearing care activities in Central Europe complements our long-term aspirations of helping more people with hearing loss through personalised care, while remaining a trusted partner to independent hearing care professionals,” says Søren Nielsen, President & CEO of Demant.

Demant can carry on the legacy
KIND is a highly recognised hearing care brand with a well-established organisation built over several decades by skilled and experienced employees, currently counting around 3,000. Owner and CEO for more than 25 years, Dr. Alexander Kind says:

“As a family business, our foremost responsibility has always been to ensure the long-term success and stability of the company. By joining forces with Demant, we have found the ideal partner to carry our legacy forward. Combining both businesses will secure a leading position in the German hearing care market. Demant brings the strength, scale and expertise needed to secure lasting value for our employees, our customers and the business as a whole. Our company is now better positioned for the future, and in the best possible hands. As a family, we are deeply reassured knowing the values that built our business will continue to thrive,” says Dr. Alexander Kind, owner and CEO of KIND.

A unique strategic fit
The acquisition supports Demant’s strategy of expanding its global position in hearing care – lately with focus on the German market – and will propel the Group to a position as a leading provider of hearing care in one of the world’s largest markets with around 1.7 million units sold annually. KIND operates around 600 hearing care clinics in Germany, and the acquisition also encompasses around 30 KIND clinics in Switzerland as well as a smaller number of clinics in Austria, Luxembourg and Singapore.

Demant and KIND have partnered for more than 20 years, and KIND’s integration into the Demant Group is a continuation of the successful collaboration.

Following the acquisition, Demant will operate a nationwide network of hearing care clinics in the competitive and highly fragmented German market, totaling more than 900 clinics. President Niels Wagner has led Demant’s global Hearing Care business since 2007:

“I look forward to welcoming KIND employees into the Demant Group and our growing Hearing Care business, which is characterised by a culture of engagement, where our hearing care experts serve millions of people annually. Over the past several years, we’ve expanded our activities in Germany, and with KIND becoming part of the Demant Group, we’re able to further improve our position and leverage one of the leading brands in the industry. We believe that a trusted relationship between the hearing aid user and a professional hearing care expert is paramount when purchasing hearing aids, and so is access to state-of-the-art technology, which is why we equip professionals with hearing solutions and standards of care that are not only excellent to work with, but also truly life-changing for people living with hearing loss,” says Niels Wagner, President of Hearing Care at Demant.

The transaction is subject to customary closing conditions and regulatory approvals, which is expected to take place in H2 2025.

Read the full announcement here.