// JD Sports Fashion acquires 80% of the family-owned Greek firm Cosmos Sport for an undisclosed sum
// Cosmos operates 57 stores in Greece and three in Cyprus
JD Sports has acquired an 80 per cent stake in Greek sporting goods retailer Cosmos Sport.
The Crete based retailer 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.
Prior to the acquisition, Cosmos was 70 per cent owned by the Tsiknakis family with the remaining 30 per cent of the business held by EOS Capital Partners.
EOS has now disposed of its entire holding in the transaction.
Cosmos has 57 stores in Greece and three in Cyprus with 32 operating under the core Cosmos fascia and the rest under a variety of retail banners.
These include 19 stores for the Sneaker 10 fascia which has a more premium footwear offer.
In the year to 31 December 2020, Cosmos generated revenues of approximately £43 million.
JD Sports Fashion executive chairman Peter Cowgill 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.”