Blackstone Acquires Majority Stake in Greek E-commerce Platform Skroutz
Global investment firm Blackstone has agreed to acquire a majority stake in Skroutz, Greece’s leading e-commerce marketplace, from CVC Capital Partners for approximately €635 million. The deal, expected to close in late 2026 pending regulatory approval, values the platform at $747 million including debt. Skroutz founders will retain minority ownership and continue leadership roles. This acquisition highlights growing private equity interest in Southern European tech assets and aims to capitalize on expanding e-commerce penetration in Greece and Southeast Europe, where Skroutz also operates in Cyprus, Romania, and Bulgaria.
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Blackstone to Acquire Majority Stake in Greek E-commerce Platform Skroutz
US investment giant Blackstone has agreed to acquire a majority stake in Skroutz, a leading Greek e-commerce entity, from CVC Capital Partners Fund VII. The transaction, valued at approximately €635 million ($747 million) including debt, is expected to close in the second half of 2026, pending regulatory approvals. As part of the deal, Skroutz founders will retain a minority stake and continue in leadership roles, with George Chatzigeorgiou remaining as CEO. Founded in 2005, Skroutz operates a vertically integrated platform offering over 12 million products from 9,000 merchants to 2.5 million active users. Beyond its core marketplace, the company provides last-mile logistics, fintech services, and retail media solutions. While primarily focused on Greece, Skroutz has expanded into Cyprus, Romania, and Bulgaria. Blackstone cites significant growth potential in Southeast Europe, where e-commerce penetration lags behind Western Europe, and highlights Greece's robust economic performance. This acquisition strengthens Blackstone’s digital marketplace portfolio, which already includes Adevinta and Property Finder, reflecting its strategic conviction in the continued expansion of digital consumer platforms across the European region.
Yahoo FinanceBlackstone Acquires Greek E-Commerce Platform Skroutz for €635 Million
Global investment firm Blackstone has agreed to acquire Skroutz, Greece's leading e-commerce and price comparison platform, in a significant deal valued at €635 million, including debt. The transaction involves purchasing the company from its current owner, the private equity firm CVC Capital Partners. Skroutz is a dominant player in the Greek digital market, serving approximately 2.5 million active users and acting as a central hub for online shopping and product comparisons in the country. This acquisition underscores Blackstone's continued strategy to invest in high-growth digital infrastructure and consumer-facing technology platforms in Europe. For CVC, the sale represents a successful exit from its investment in the Greek tech sector. The deal highlights the increasing valuation of regional e-commerce leaders and the robust interest from major global financial institutions in consolidating digital market positions within Southern Europe. By integrating Skroutz into its portfolio, Blackstone aims to leverage the platform's extensive user base and strong brand recognition to drive further growth and potential expansion into adjacent markets or services.
QuartzBlackstone Acquires Majority Stake in Greek E-commerce Platform Skroutz from CVC
Blackstone has agreed to acquire a majority stake in Skroutz, Greece's leading e-commerce marketplace, from CVC Capital Partners Fund VII. The transaction values the company at €635 million ($747 million), including debt, and is expected to close in the second half of 2026, subject to regulatory approvals. This deal reportedly doubles CVC's initial investment in the platform. Founded in 2005, Skroutz hosts approximately 9,000 merchants and serves 2.5 million active users, having expanded its operations into Cyprus, Romania, and Bulgaria. As part of the agreement, Skroutz founders will retain a significant ownership position and continue managing the company, with George Chatzigeorgiou remaining as President and CEO. Blackstone cited the potential for growth in e-commerce penetration across Greece and Southeast Europe as a key driver for the acquisition. The firm highlighted its experience with digital marketplaces like Adevinta and Property Finder. Meanwhile, CVC noted Skroutz's evolution from a price-comparison site to a comprehensive marketplace with enhanced logistics and fintech capabilities during their ownership period.
Yahoo FinanceBlackstone Acquires Majority Stake in Greek E-commerce Firm Skroutz
Global investment firm Blackstone has agreed to acquire a majority stake in Skroutz, a prominent e-commerce and price comparison platform based in Greece. While the specific financial terms of the transaction were not publicly disclosed, reports indicate that the deal values Skroutz at approximately 635 million euros (US$747 million), a figure that includes the company's existing debt. This acquisition marks a significant development in the Greek digital economy, highlighting the growing interest of international private equity firms in Southern European tech assets. Skroutz has established itself as a key player in the local online retail sector, offering consumers tools to compare prices across various merchants. The investment by Blackstone is expected to provide the capital necessary for further expansion and technological enhancement of the platform. This move underscores the increasing consolidation within the European e-commerce landscape, as major financial entities seek to capitalize on the sustained growth of online shopping trends post-pandemic. The transaction reflects confidence in the resilience and potential of the Greek tech startup ecosystem.
Tech in AsiaBlackstone to Acquire Majority Stake in Greek Marketplace Skroutz from CVC
Blackstone has announced a definitive agreement to acquire a majority stake in Skroutz, Greece’s largest online shopping platform, from CVC Capital Partners Fund VII. This transaction marks a significant milestone for Skroutz, which has evolved from a price comparison site into a leading ecommerce marketplace serving approximately 2.5 million active users. The platform offers over 26 million products through 9,000 partner merchants and provides logistics, fintech, and advertising services. Under the deal, Skroutz founders will sell part of their shares but remain actively involved, with George Hadjigeorgiou continuing as CEO. The acquisition aligns with Blackstone’s strategy to invest in technology-enabled consumer businesses, citing confidence in the growth potential of ecommerce in Greece and Southeast Europe, where penetration rates remain below Western European levels. Skroutz has recently expanded its operations into Cyprus, Romania, and Bulgaria. CVC Capital Partners praised the transformation achieved during their six-year partnership, while Blackstone highlighted its experience with similar digital platforms like Adevinta. The move underscores the ongoing development of the Greek economy and the digital retail sector in the region.
Cyprus Mail