JD Sports Fashion, known for its aggressive approach to acquiring businesses, has recently acquired an 80% stake in Greek retailer Cosmos Sport SA. The financial terms of the deal have not been disclosed. Cosmos Sport currently operates 57 stores in Greece and three in Cyprus, with a range of retail banners and associated trading websites. Their flagship brand, Cosmos, consists of 32 stores that offer a premium selection of sporting goods and lifestyle products. In contrast, the Sneaker 10 chain, with 19 stores, specializes in high-end footwear. Last year, Cosmos Sport generated around €52 million in revenue.

Previously, 70% of Cosmos Sport was owned by the Tsiknakis family, while EOS Capital Partners held the remaining 30%, which they acquired two years ago. However, as part of the deal with JD, EOS has sold its entire stake. Fragiskos Tsiknakis, the founder of the business, who is based in Crete, remains involved in the company but has handed over day-to-day operational responsibilities to his three sons: Michail (CEO), Eleftherios (Head of Property and Private Label), and Konstantinos (Head of Commercial and Buying).

Peter Cowgill, the Executive Chairman of JD, expressed his enthusiasm for the acquisition, highlighting that it strengthens JD’s presence in Europe. He also praised the extensive knowledge and experience of the Tsiknakis Family, emphasizing that they will continue to play a significant role in the company under JD’s ownership. Cowgill added that they are excited about the potential development opportunities in the region and look forward to collaborating with the Tsiknakis Family.

Useful links:
– Official website of JD Sports Fashion: https://www.jdplc.com/
– Cosmos Sport SA website: https://www.cosmossport.gr/