Blackstone has announced that funds managed by its private equity business have entered into a definitive agreement to acquire a majority stake in Skroutz, the leading online marketplace in Greece, from CVC Capital Partners Fund VII. The transaction is expected to close in the second half of 2026, subject to regulatory approvals. Financial terms were not disclosed.
Founded in 2005, Skroutz has grown from a price-comparison platform into a vertically integrated e-commerce marketplace offering more than 12 million products from approximately 9,000 merchants to around 2.5 million active users. The platform combines its marketplace with proprietary last-mile logistics, fulfillment 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, with George Chatzigeorgiou remaining as CEO.
Beyond its core Greek market, Skroutz has established a presence in Cyprus and, more recently, expanded into Romania and Bulgaria as it looks to broaden its footprint across Southeast Europe. Blackstone said it sees meaningful room for growth given that e-commerce penetration in Greece and Southeast Europe remains lower than across Western Europe, while Greece has been one of the fastest-growing European economies in recent years, with real GDP per capita growth consistently above the eurozone average.
The acquisition adds to Blackstone’s track record in digital consumer and marketplace businesses, which includes Adevinta, the world’s largest online classifieds platform, and Property Finder, a leading property portal in the Middle East and North Africa. Blackstone manages over $1.3 trillion in assets under management globally.
KEY QUOTES:
“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.”
Alexander Walsh, Senior Managing Director, Blackstone
“This marks a significant new chapter for Skroutz. 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.”
George Chatzigeorgiou, President and CEO, Skroutz
