GN Store Nord A/S: GN announces divestment of BelAudição

EQS-Ad-hoc: GN Store Nord A/S / Key word(s): Disposal
GN Store Nord A/S: GN announces divestment of BelAudição

28-Jun-2023 / 22:28 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Continued execution of new capital plan to strengthen capital structure and
drive growth

Today, GN has signed an agreement to divest BelAudição, Unipessoal Lda
('BelAudição') to MCH Private Equity. BelAudição is the owner of the leading
retailer of hearing aid solutions in Portugal, AudiçãoActiva, with around 50
hearing aid stores and 2022 revenues of around EUR 35 million and topline
growth of 24%.
MCH Private Equity is an independent private equity firm based on the
Iberian Peninsula with a focus on investing in companies with high potential
in attractive sectors. Their mission is to support mid-sized businesses in
transformation processes, ranging from the transition of ownership in
family-owned companies to the internationalization and development of
organic and inorganic growth plans.
The transaction demonstrates GN Hearing's commitment to its successful
strategy of not owning retail and instead focus on being a key supplier to
strong independent hearing aid dispensers. GN finalized the acquisition of
BelAudição - a long-time GN Hearing customer - in 2022 to facilitate a
generational transition. GN Hearing has, therefore, carefully considered
potential buyers to back the next phase of BelAudição's impressive growth
journey while securing that GN Hearing remains a key supplier of hearing
aids to the business.
Gitte Aabo, CEO of GN Hearing, says: 'We are very pleased to have found a
new strong owner for BelAudição, a high performing hearing care retailer
with an impressive growth track-record. GN Hearing continues to be fully
committed to BelAudição and hearing aid users across Portugal as a key
supplier of leading hearing aid technology. Together with MCH Private
Equity's local presence and expertise, BelAudição now has strong backing to
execute their ambitious growth plans to the benefit of all parties. Further,
this divestment is also an important step in executing GN's new capital plan
to strengthen the capital structure and continue to drive growth and
innovation.'
Andrés Peláez, Senior Partner at MCH, comments: 'MCH's acquisition of
BelAudição is a strategic step in our vision to invest in promising Spanish
and Portuguese companies with growth potential. This investment strengthens
MCH's position in the market and reaffirms our commitment to support the
development of companies in key sectors.'
Alantra is serving as exclusive financial advisor to GN on the transaction.
Vieira de Almeida (VdA) and Uría Menéndez-Proença de Carvalho (UMPC) are
serving as legal counsels to GN and MCH respectively.
Key transaction highlights
The transaction is an important milestone in the newly announced capital
plan to strengthen GN's capital structure where proceeds from selected asset
disposals amount to DKK 1-2 billion. The divestment of BelAudição will
contribute DKK -500 million of that target. The transaction is expected to
close in Q3 2023 subject to MCH Private Equity completing financing and
obtaining anti-trust clearance.
The divestment of BelAudição is not impacting the financial guidance of GN
Hearing.


For further information, please contact:

Investor Relations
Anne Sofie Staunsbæk Veyhe +45 45 75 85 06
Rune Sandager +45 45 75 92 57


Media Relations
Steen Frentz Laursen +45 20 65 34 20


About GN

GN brings people closer through our leading intelligent hearing, audio,
video, and gaming solutions. Inspired by people and driven by innovation, we
deliver technology that enhance the senses of hearing and sight. We help
people with hearing loss overcome real-life challenges, improve
communication and collaboration for businesses, and provide great
experiences for audio and gaming enthusiasts.

GN was founded more than 150 years ago with a vision to connect the world.
Today, inspired by our strong heritage, GN touches more lives than ever with
our unique expertise and the broadest portfolio of products and services in
our history - bringing people closer to what is important to them.

We market our solutions with the brands Jabra, ReSound, SteelSeries,
Beltone, Interton, BlueParrott, Danavox, and FalCom in 100 countries.
Founded in 1869, GN Group employs more than 7,500 people and is listed on
Nasdaq Copenhagen (GN.CO).

Visit our homepage GN.com - and connect with us on LinkedIn, Facebook and
Twitter

About MCH Private Equity

MCH is a private equity fund set up in 1998. The company manages more than
1.2 billion euros through different funds, being one of the leading
companies in the Spanish market and one of the largest private and
independent private equity groups in Spain. The funds focus their activity
on acquiring significant stakes in companies of relevant size in the Iberian
Peninsula, pioneers in their corresponding markets and managed by solid
professional teams, with the aim of boosting their growth and
internationalization.

MCH is currently investing its fifth fund, having complete operations in
leading companies such as Molecor (development of molecular orientation
technology applied to pressurized water channeling), Prosur (natural
ingredients for the food industry) or Logalty (digital signature and
electronic contracting), among others.


End of Inside Information

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   Language:       English
   Company:        GN Store Nord A/S
                   Lautrupbjerg 7
                   2750 Ballerup
                   Denmark
   Phone:          +45 457 50000
   E-mail:         investor@gn.com
   Internet:       www.gn.com
   ISIN:           DK0010272632
   WKN:            854734
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt, Hamburg, Munich, Stuttgart, Tradegate
                   Exchange
   EQS News ID:    1668287

End of Announcement EQS News Service
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1668287 28-Jun-2023 CET/CEST