JD Sports has acquired 80 per cent of Greek sport retailer Cosmos to expand its presence in Europe with a foothold in the Greek market.
“This is another exciting acquisition for JD that further expands our presence in Europe,” said JD Sports’ executive chairman Peter Cowgill. “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.
Founded in 1982 by businessman Fragiskos Tsiknakis, Cosmos operates 60 stores between Greece and Cyprus under the Cosmos and Sneaker 10 banner – which offers a more premium offer of footwear.
The company, in the year ending on 31 December 2020, generated €52m in revenues.