US investment company Blackstone has agreed to purchase a majority stake in Greek online marketplace Skroutz from CVC Capital Partners Fund VII.
As part of the transaction, the company’s founders will sell part of their holdings, while keeping a stake and remaining in leadership positions.
George Chatzigeorgiou will stay on as chief executive officer.
Chatzigeorgiou said: “This marks a significant new chapter for Skroutz. Since its launch in 2005, the company has undergone a substantial journey of transformational growth.
“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.”
The deal is expected to be completed in the second half of 2026 and is subject to regulatory approvals.
Although its financial terms have not been disclosed, a source told Reuters that the deal values Skroutz at €635m ($747m), including debt.
Founded in 2005, Skroutz runs a vertically integrated e-commerce platform.
According to the press statement, the business provides more than 12 million products from 9,000 merchants to roughly 2.5 million active users.
In addition to its main marketplace, the company operates proprietary last-mile logistics, fulfilment services, a licensed fintech offering, and a retail media business.
The company has also expanded outside Greece in recent years, setting up operations in Cyprus, Romania, and Bulgaria as it looks to widen its footprint across Southeast Europe.
Blackstone said e-commerce penetration in Greece and Southeast Europe is still below levels seen in Western Europe, which it regards as an opportunity for growth as those markets develop.
It also said Greece has been among Europe’s “fastest-growing” economies in recent years, with real gross domestic product (GDP) per capita growth consistently above the eurozone average.
The transaction adds to Blackstone’s digital marketplace portfolio, which includes Adevinta, described as the online classifieds platform, and Property Finder, a property portal operating across the Middle East and North Africa.
Blackstone senior managing director Alexander Walsh 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.”
