logo
  

JD Sports Fashion Acquires 80% Of Cosmos Sport S.A.

JD Sports Fashion Plc (JD.L), on Friday, said it acquired 80% of the Crete, Greece-based Cosmos Sport S.A.

Cosmos was 70% owned by the Tsiknakis Family with EOS Capital Partners AIFM, who invested into the business in 2019, holding a 30% 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 with the principal ones being Cosmos (32 stores) which is the core fascia of the business and has an elevated sporting goods / lifestyle proposition and Sneaker 10 (19 stores) which has a more premium footwear offer. In the year ended 31 December 2020, Cosmos generated revenues of about €52 million.

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Delta Air Lines said it sees weather-related flight cancelations as AT&T and Verizon readies for 5G roll out in and around the vicinity of major U.S. airports. Most of the other airlines also confirmed the same as the implementation of the new C-Band 5G service is expected to interfere with the working of onboard aircraft instruments. Financial services firm Morgan Stanley (MS) reported Wednesday a profit for the fourth quarter that increased 10 percent from last year, reflecting 7 percent revenue growth amidst strength in Wealth Management and Investment Management business segments. Bank of America Corp. (BAC) reported Thursday that net income applicable to common shareholders for the fourth quarter grew 30 percent to $6.77 billion from last year's $5.21 billion, with earnings per share increasing to $0.82 from $0.59 in the prior year, reflecting strong operating leverage as revenues...
Follow RTT