Mega deal in the sportswear industry – JD Sports acquires Cosmos Sport
British firm JD Sports, one of the strongest companies in the sporting goods sector globally, acquired 80% of the Greek sportswear chain Cosmos Sport, in which the EOS Capital Partners fund of Apostolos Tamvakakis had recently invested.
According to the announcement, the company EOS Capital Partners, exclusive manager of the EOS Hellenic Renaissance Fund ("Fund") on Thursday, October 21, 2021 signed a binding agreement for the sale of the entire minority stake (30 %) held by Cosmos Sport SA , a leading company in the field of retail sale of sports goods in Greece and Cyprus.
JD Sports Fashion Plc, which is one of the largest companies in the world in the field, will acquire 80% of the share capital of Cosmos Sport, while the members of the Tsiknaki family, who are the founders and the main shareholders of the company until today, will remain in it maintaining a minority stake of 20%.
JD Sports' turnover in the last financial year (February 1, 2020 - January 31, 2021) amounted to 6.16 billion pounds. The company, which is listed on the London Stock Exchange, has 3,304 stores worldwide.
What is Cosmos Sport?
Cosmos Sport was founded in 1982 by Mr. Frangiskos Tsiknakis in Heraklion, Crete and since then has grown into a leading company in the field of sports retail sales in Greece.
The subsequent strong chain of sportswear started from 1 store in the Hersonissos of Crete and currently operates 61 stores in Greece and Cyprus under 4 omnichannel retail brands (Cosmos Sport, Sneaker10, Slamdunk, Sportsfactory) marking a significant development course in recent years.
EOS invested in the company in December 2019, when the company had 43 points of sale - 39 physical stores and 4 e-shops.
EOS funds were used in order for...