JD Sports acquires 80 per cent of Cypriot sports brand
JD Sports Fashion Plc has announced that on October 21 2021 it acquired 80 per cent of Cosmos Sport S.A.
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).
Prior to completion, Cosmos was 70 per cent owned by the Tsiknakis Family with EOS Capital Partners AIFM (‘EOS’), who invested into the business in 2019, holding a 30 per cent stake. EOS have disposed of their entire holding in this transaction.
Cosmos operates 57 stores in Greece and three in Cyprus under a variety of retail banners and associated trading websites.
Other banners include the shoe retailer Sneaker 10.
In the year ended 31 December 2020, Cosmos generated revenues of approximately €52m.
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.”
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