Blackstone, the world’s largest alternative asset manager, has acquired a majority stake in leading Greek e-commerce platform Skroutz from CVC Capital Partners Fund VII, in a deal expected to close in the second half of 2026, subject to regulatory approvals.
As part of the transaction, Skroutz’s founders will sell part of their holdings but will retain a stake in the company and continue to lead its operations. George Chatzigeorgiou will remain in his role as Chief Executive Officer.
According to Bllomberg, the deal values Skroutz at €635 million ($746 million) including debt, people familiar with the matter said, asking not to be identified discussing confidential information.
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.
