The Sennheiser brothers at the 2020 results press conference
Photo: imago images / localpic
The Lower Saxony headphone specialist Sennheiser is sold to a foreign investor.
The Swiss hearing aid manufacturer Sonova is taking over the "Consumer Division" of the German family company from Wedemark near Hanover for 200 million euros.
With around 600 employees, the business generates annual sales of around 250 million euros.
Sonova, by its own account the world market leader in hearing aids, is financing the transaction from existing funds.
The Sennheiser brand will be continued under license.
The deal has yet to be approved by regulators and is expected to be completed by the end of the year.
sbo / rtr