UK's JD Sports Fashion acquires Cosmos Sport in Greece & Cyprus

25 Oct '21

2 min read

Pic: AVM Images / Shutterstock.com

JD Sports Fashion Plc, one of the world's leading retailers of sports, fashion and outdoor brands, has acquired 80 per cent of Cosmos Sport S.A. in Greece and Cyprus. Prior to completion, Cosmos was 70 per cent owned by the Tsiknakis Family with EOS Capital Partners AIFM, who invested into the business in 2019, holding a 30 per cent stake.

EOS have disposed of their entire holding in this transaction, JD Sports said in a media release.

Based in Crete, Greece, Cosmos was founded in 1982 by Fragiskos Tsiknakis who continues to be active in the business although he has handed over day to day operational responsibility to his three sons Michail (CEO), Eleftherios (head of property and private label) and Konstantinos (head of commercial and buying).

Cosmos operates 57 stores in Greece and three in Cyprus under a variety of retail banners and associated trading websites with the principal ones being Cosmos (32 stores) which is the core fascia of the business and has an elevated sporting goods/lifestyle proposition and Sneaker 10 (19 stores) which has a more premium footwear offer. In the year ended December 31, 2020, Cosmos generated revenues of approximately €52 million.

Peter Cowgill, executive chairman of JD Sports Fashion Plc, said: "This is another exciting acquisition for JD that further expands our presence in Europe. We welcome the highly experienced and knowledgeable Tsiknakis Family to the Group and we look forward to working with them on the development opportunities in the region."

Fibre2Fashion News Desk (KD)

More JD Sports News... More Fashion News - United Kingdom...