Investment to support continued growth and European expansion
Blackstone (NYSE: BX), the world’s largest alternative asset manager, announced today that funds managed by its private equity business have entered into a definitive agreement to acquire a majority stake in Skroutz (the “Company”), the leading online marketplace in Greece, from CVC Capital Partners Fund VII.
Skroutz is the leading e-commerce platform in Greece, offering more than 26 million products from approximately 9,000 merchants to around 2.5 million active users. Founded in 2005, the Company operates a vertically integrated platform that combines its marketplace with proprietary last-mile logistics, fulfilment services, a licensed fintech offering, and a growing retail media business.
Skroutz’s founders will sell a portion of their shareholding as part of the transaction but retain a stake and continue to lead the business. George Chatzigeorgiou will remain CEO.
Over recent years Skroutz has expanded beyond its core Greek market, establishing a presence in Cyprus and more recently expanding into Romania and Bulgaria, as it looks to broaden its footprint across Southeast Europe. Greece has been one of the fastest-growing European economies in recent years, with real GDP per capita growth consistently above the eurozone average. E-commerce penetration in Greece and Southeast Europe remains lower than across Western Europe, which the firm believes creates meaningful room for growth as those markets develop.
Alexander Walsh, Senior Managing Director at Blackstone, said: “This investment builds on our conviction in digital consumer platforms, where we believe e-commerce penetration across Europe will continue to drive meaningful growth. George and the Skroutz team have built a standout platform with a powerful brand, which we believe is well placed to capture this growth opportunity across Greece and Southeastern Europe. We look forward to partnering with them to work towards scaling the business further.”
Alex Fotakidis, a Managing Partner and Head of CVC Greece, said: “We are proud of all that Skroutz has achieved during our productive partnership. Together with the Founders and management team, we have made significant investments in infrastructure, merchant capabilities and customer experience, and successfully evolved from a price-comparison platform into Greece’s leading e-commerce marketplace. We believe Skroutz is well-positioned to continue its growth journey with Blackstone.”
George Chatzigeorgiou, President and CEO of Skroutz, said: “This marks a significant new chapter for Skroutz. Since its launch in 2005, the company has undergone a substantial journey of transformational growth. I would like to express my sincere gratitude to CVC for its invaluable support over the past six years. During this period, Skroutz successfully evolved into a pure, verticalised online marketplace, further solidifying its leadership position. We are equally pleased to partner with Blackstone, whose strong investing experience in online marketplaces and digital platforms makes it an excellent fit for our future. As we build on the foundation we have created, Blackstone will help accelerate our next stage of innovation and growth. I would like to thank my co-founders, the entire Skroutz team, and our partners and users for the confidence they have placed in us.”
Blackstone has a proven track record investing in digital consumer and marketplace businesses, including Adevinta, the world’s largest online classifieds platforms, and Property Finder, a leading property portal in the Middle East and North Africa. These investments reflect the firm’s conviction in technology-enabled platforms with leading market positions that benefit from long-term secular tailwinds.
The transaction is expected to close in H2 2026, subject to regulatory approvals.
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About Blackstone
Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s over $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds.
Further information is available at www.blackstone.com.
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About CVC
CVC is a leading global private markets manager with a network of 29 office locations throughout EMEA, the Americas, and Asia, with approximately €209 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of over €257 billion from some of the world’s leading pension funds and other institutional investors. Funds managed or advised by CVC’s private equity strategy are invested in approximately 150+ companies worldwide, which have combined annual sales of over €240 billion and employ over 660,000 people.
For further information about CVC please visit: https://www.cvc.com/.
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About Skroutz
Skroutz S.A. connects millions of consumers with thousands of merchants who showcase their products through the largest e-commerce platform in Greece.
On www.skroutz.gr, consumers can find over 26 million products from approximately 9,000 partner stores, enjoying secure transactions, guaranteed delivery, money-back guarantees, and free returns on every purchase made through Skroutz. The company’s vision is to offer consumers a seamless, end-to-end shopping experience while providing its partners with the most efficient sales channel.
Founded in 2005 and headquartered in Athens, Skroutz S.A. employs more than 600 people. After 21 years of operation, it has established itself in the minds of consumers as the ultimate benchmark for the ideal shopping experience, recording more than 25 million visits monthly.
For more information about Skroutz, visit: https://corporate.skroutz.gr/
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