Blackstone takes majority stake in Greek ecommerce leader Skroutz

Blackstone is expanding its presence in European ecommerce with the acquisition of a majority stake in Greek marketplace Skroutz. The investment firm is buying the shares from CVC Capital Partners, while the company’s founders will remain involved and continue to lead the business.

Deal values Skroutz at €635 million

According to information reported by Bloomberg, the transaction values Skroutz at approximately 635 million euros including debt. The stake is being acquired through funds managed by Blackstone’s private equity division, with CVC Capital Partners Fund VII exiting its position.

As part of the agreement, Skroutz’s founders will sell part of their holdings while keeping an ownership stake in the company. George Chatzigeorgiou will stay on as chief executive officer and described the transaction as an important new phase for the business.

From price comparison site to ecommerce platform

Founded in 2005 as a price comparison website, Skroutz has developed into one of Greece’s largest ecommerce platforms. The company now serves around 2.5 million active users and connects shoppers with more than 12 million products from roughly 9,000 merchants.

The platform has built an integrated ecommerce ecosystem that combines its online marketplace with in-house last-mile delivery, fulfillment operations, fintech services and an expanding retail media business.

Focus on Southeast European growth

Skroutz has been growing beyond its home market in recent years. After establishing operations in Cyprus, the company has also entered Romania and Bulgaria as it works to strengthen its position across Southeast Europe.

The business sees further growth potential in the region, supported by rising ecommerce adoption and increasing digital consumer activity across European markets.

Blackstone builds on digital commerce investments

Blackstone says the investment reflects its long-term confidence in digital consumer platforms and the continued growth of online retail in Europe. Senior Managing Director Alexander Walsh said the company sees strong opportunities as ecommerce penetration continues to increase.

The investment adds to Blackstone’s previous moves in the digital sector, including investments in classifieds operator Adevinta and Dutch payments provider Mollie. The firm has also expanded its logistics real estate portfolio in Europe to benefit from growing demand for faster ecommerce deliveries.