Sennheiser has found a buyer for its consumer products division. It is Sonova, a Swiss company specializing in medical audio products, which seizes this activity subject to strong competition.
The market for audio products, whether earphones, headphones or speakers, has been subject to particularly active competition since the major computer manufacturers took an interest in it. We are thinking of Apple of course, but Google, Amazon and Sonos have ambitions in this area.
A check for 200 million euros
All this leaves only the crumbs to the “historical” when the margins are already very low in the sector. Sennheiser is one of those pioneering companies that have failed or failed to maintain their market positions. In February, the German manufacturer confirmed the search for a ” strong partner » to take over its consumer products division.
The buyer has been found: it is Sonova, a Swiss manufacturer of medical audio products (cochlear implants, hearing aids), which will take over the catalog of wireless headphones, headphones and soundbars from Sennheiser. A priori, Sonova intends to continue fighting to find a place in the sun on the consumer market.
The buyer signed a check for 200 million euros to buy a division that was achieving good year or bad year 250 million euros in annual turnover. The acquisition is subject to the green light from the competition authorities, but if all goes well Sennheiser and Sonova hope that the transaction will be completed by the second half of the year. The Sennheiser brand will be used by Sonova.
Sennheiser has always done well in the industry, with products recognized and appreciated. In 2019, the group broke its sales record, but it was insufficient to face unbridled competition. The company had to part with 650 employees before finding the White Knight capable of continuing the activity.