Last month, JD Sports reported a record $505.9 million in pre-tax profit for the first half of the year. Now, the sports retailer has acquired an 80% stake in Greece-based Cosmos Sports.
With 57 stores in Greece and three in Cyprus under a mix of retail banners, Cosmos will boost JD’s footprint, adding to the more than 3,300 stores JD Sports already has worldwide.
EOS Capital Partners sold the 30% stake that it acquired two years ago and founder Fragiskos Tsiknakis’ family lowered their stake from 70%. Cosmos recorded $60.5 million in revenue last year.
Cosmos is just one of JD Sports’ many acquisitions in the past year.
- The British retailer purchased an 80% stake in Barcelona-based online sports retailer Deporvillage.
- It bought a 60% stake in Polish sports fashion business Marketing Investment Group.
- It acquired California-based Shoe Palace for $325 million and Baltimore-based retailer DTLR Villa for $495 million.
- It also purchased Manchester-based clothing retailer Oi Polloi.
JD Sports is interested in acquiring U.K.-based e-commerce retailer Missguided, too. It may, however, be required to sell Footasylum — which it bought for $124 million in 2019 — following concerns from the United Kingdom’s Competition and Markets Authority.
The company expects full-year earnings to more than double. Front Office Sports