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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.
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
28-Jun-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press
Releases.

Archive at www.eqs-news.com  
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

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June 28, 2023 16:28 ET (20:28 GMT)