JD Sports Fashion Plc, one of the world’s leading retailers of sports, fashion and outdoor brands, announces that it acquired 80 per cent of Cosmos Sport S.A.
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 approximately €52M.
The size of the transaction does not meet the thresholds for mandatory notification under Listing Rule 10. However, we can confirm that put and call options have been agreed, to enable future exit opportunities for the Tsiknakis Family with whom we will work in partnership.1
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.”
