JD Sports Fashion has further expended its presence in Europe by acquiring 80 percent of Cosmos Sport, a retailing group that operates 57 stores in Greece and three in Cyprus under various banners, associated with web stores. Of these, 32 are under the Cosmos banner, offering an “elevated sporting goods / lifestyle proposition,” according to JD. Another 19 stores operate under the more upscale Sneaker 10 banner. Its revenues amounted to about €52 million last year. The value of the transaction has not been disclosed. Before the deal, Cosmo Sport’s ownership was split between the founding Tsiknakis family and EOS Capital Partners, at 70 and 30 percent, respectively. EOS, which invested in the business two years ago, has now relinquished its stake, leaving a 20 percent balance in the hands of the family. Headquartered in Crete, Cosmos was founded in 1982 by Fragiskos Tsiknakis, who is still active in the business but has since yielded operational reponsibilities to his three sons: Michail, CEO; Eleftherios, head of property and private label; and Konstantinos, head of commercial and buying. Put and call options give the Tsiknakis family the possibility to sell their shares at a later date. The family will continue to work in partnership with JD “on the development opportunities in the region,” says the acquisitive U.K.-based retailer.

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