Blackstone Acquires Greek E-Commerce Leader Skroutz

Blackstone, the global alternative asset management giant, is set to acquire a significant stake in Skroutz, Greece's premier online marketplace. The deal, struck with current owner CVC Capital Partners Fund VII, signals a major vote of confidence in the digital consumer sector across Southern Europe. This strategic move by Blackstone underscores its ongoing commitment to high-growth digital platforms with strong market positions.

Skroutz, founded in 2005, has evolved from a price comparison site into a comprehensive e-commerce ecosystem. The platform boasts an impressive catalog of over 12 million products from approximately 9,000 vendors, serving a robust base of 2.5 million active users. Its integrated model encompasses proprietary last-mile logistics, fulfillment services, a licensed fintech offering, and a developing retail media arm, positioning it as a dominant force in the Greek online retail space.

The investment is expected to fuel Skroutz's ambitious expansion plans. The company has already extended its reach beyond Greece into Cyprus, Romania, and Bulgaria, targeting broader penetration across Southeast Europe. This region presents a compelling growth narrative, with Greece experiencing GDP per capita growth that outpaces the eurozone average. E-commerce adoption in both Greece and its neighboring markets still lags behind Western Europe, indicating substantial runway for digital commerce expansion.

Alexander Walsh, Senior Managing Director at Blackstone, highlighted the firm's belief in the sustained growth trajectory of digital consumer platforms across Europe. He expressed enthusiasm for partnering with Skroutz's leadership, including CEO George Chatzigeorgiou, to further scale the business. Blackstone's track record includes successful investments in digital marketplaces such as Adevinta and Property Finder, reinforcing its strategy of backing market leaders benefiting from long-term secular trends.

CVC Capital Partners, represented by Alex Fotakidis, Managing Partner and Head of CVC Greece, reflected positively on the partnership. Over their tenure, significant investments were made to enhance Skroutz's infrastructure, merchant support, and customer experience, facilitating its transformation into a leading verticalized marketplace. CVC believes Skroutz is exceptionally well-positioned for its next phase of growth under Blackstone's stewardship.

The founders of Skroutz will retain a stake in the company and continue to lead its operations, ensuring continuity and leveraging their deep understanding of the market. This transaction, anticipated to conclude in the second half of 2026 pending regulatory approvals, marks a pivotal moment for Skroutz as it embarks on a new chapter of innovation and accelerated growth, backed by one of the world's largest alternative asset managers.