JD Sports Fashion Plc announced that it acquired 80 percent of Cosmos Sport S.A. Based in Crete, Greece, Cosmos operates 57 stores in Greece and three in Cyprus under a variety of retail banners and associated trading websites.
The principal banners are Cosmos, with 32 stores, which is the core of its business and Sneaker 10, with 19 stores. In the year ended December 31, 2020, Cosmos generated revenues of approximately €52 million.
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 percent owned by the Tsiknakis family with EOS Capital Partners AIFM, who invested into the business in 2019, holding a 30 percent stake. EOS has disposed of its entire holding in this transaction.
Peter Cowgill, executive chairman, 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.”
