Blackstone acquires Greek e-commerce platform Skroutz from CVC

Blackstone has agreed to get a bulk involvement successful Skroutz, Greece's starring e-commerce marketplace, from CVC Capital Partners Fund VII successful a woody that values the institution astatine €635 cardinal ($747 million) including debt, according to Reuters.

The transaction is expected to adjacent successful the 2nd fractional of 2026, taxable to regulatory approvals, Blackstone said. The woody volition treble CVC's archetypal concern successful Skroutz, according to Reuters.

Founded successful 2005, Skroutz operates a level wherever astir 9,000 merchants database much than 12 cardinal products, drafting astir 2.5 cardinal progressive users. The institution has besides built retired logistics and fulfillment infrastructure, a retail media unit, and a licensed fintech arm, Blackstone said.

As portion of the deal, the founders volition clasp onto a meaningful ownership presumption and enactment connected to tally the company, though they are selling immoderate of their shares. George Chatzigeorgiou volition stay arsenic president and CEO.

"This marks a important caller section for Skroutz," George Chatzigeorgiou said successful a statement. "Blackstone volition assistance accelerate our adjacent signifier of innovation and growth."

Alexander Walsh, a elder managing manager astatine Blackstone, said successful a connection that the steadfast believes e-commerce penetration crossed Europe volition proceed to thrust maturation and that Skroutz is good positioned to seizure the accidental crossed Greece and Southeast Europe.

Skroutz has been expanding beyond its location marketplace successful caller years, establishing operations successful Cyprus and entering Romania and Bulgaria. Blackstone noted that e-commerce penetration successful Greece and Southeast Europe remains little than successful Western Europe, which it sees arsenic country for growth.

Alex Fotakidis, a managing spouse and caput of CVC Greece, said successful a connection that during CVC's ownership the institution evolved from a price-comparison level into Greece's starring e-commerce marketplace, with investments made successful infrastructure, merchant capabilities, and lawsuit experience.

According to Bloomberg, Blackstone has different assets successful Greece arsenic well, among them Hotel Investment Partners and Fraport Greece, a determination airdrome operator. Bloomberg noted that CVC has a agelong past successful Greece, with its portfolio determination having included Hellenic Healthcare Group, energy supplier Public Power Corp, and insurer Ethniki.

Blackstone pointed to its way grounds successful integer marketplace investments, including Adevinta, an online classifieds platform, and Property Finder, a spot portal operating successful the Middle East and North Africa.