Blackstone acquires Skroutz from CVC
Blackstone, the world’s largest alternative asset manager, announced that funds managed by its private equity business have entered into a definitive agreement to acquire a majority stake in Skroutz from CVC Capital Partners Fund VII.
Skroutz’s founders will sell part of their shareholding as part of the transaction, but will remain actively involved and continue to lead the company. George Hatzigeorgiou will remain Chief Executive Officer. The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
Skroutz is the most popular e-commerce platform in Greece, offering more than 26 million products from around 9,000 merchants to 2.5 million active users. Founded in 2005, it has evolved into Greece’s largest marketplace, operating its own logistics network, including courier services and warehouses, while also providing integrated warehousing and order fulfillment services, licensed fintech services, and a rapidly growing retail media business for partner merchants.
Skroutz has expanded beyond the Greek market, establishing a presence in Cyprus and, more recently, in Romania and Bulgaria, as part of its strategy to expand across Southeast Europe.
Greece has ranked among Europe’s fastest-growing economies over the last years, with real GDP per capita growth consistently exceeding the Eurozone average. At the same time, e-commerce penetration in Greece and Southeast Europe remains lower than in Western Europe, creating significant growth potential as these markets continue to mature.
As Alexander Walsh, Senior Managing Director at Blackstone, stated, “this investment reflects our confidence in online shopping platforms, as we believe e-commerce penetration in Europe will continue to drive meaningful growth.”
“An outstanding platform has been built with a strong brand, which we believe is well positioned to capitalize on this growth opportunity in Greece and Southeast Europe. We look forward to partnering with them to support the company’s continued growth,” he added.
“A new chapter for Skroutz”
Meanwhile, Skroutz Chairman and CEO George Hatzigeorgiou said the development marks an important new chapter for the company.
“Since its launch in 2005, Skroutz has undergone a highly dynamic transformation and growth journey. I would like to express my sincere gratitude to CVC for its valuable support over the past six years. During this period, Skroutz successfully evolved into a fully integrated marketplace, further strengthening its leadership position.
“We are equally excited about partnering with Blackstone, whose strong investment expertise in e-commerce marketplaces and digital platforms makes it an ideal partner for our future journey. Building on the foundation we have created, Blackstone will help accelerate our next phase of innovation and growth.
“I would also like to thank my co-founders, the entire Skroutz team, as well as our partners and consumers for the trust they place in us,” Hatzigeorgiou stated.
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