Athens, Greece. Blackstone said funds managed by its private equity business have reached 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 but will remain actively involved and continue to lead the company.
Transaction and ownership
Blackstone announced the agreement on Monday, describing the deal as a new chapter for Skroutz. The founders will reduce their holdings as part of the transaction while maintaining active involvement in the business. George Hadjigeorgiou will remain chief executive officer.
Platform scale and services
Skroutz, founded in 2005, has grown into Greece’s most popular ecommerce platform, with about 2.5 million active users and more than 26 million products offered through roughly 9,000 partner merchants. The company has evolved from a price comparison service into what it describes as the country’s leading marketplace, supported by its own courier and warehousing infrastructure.
Skroutz also provides storage and order fulfilment services, licensed fintech services, and a digital advertising business for partner retailers on the platform.
Expansion beyond Greece
In recent years, Skroutz has expanded outside Greece, strengthening its presence in Cyprus and entering Romania and Bulgaria as part of broader ambitions across southeast Europe. The company has also steadily expanded operations in Cyprus, strengthening its position in the local ecommerce market through its marketplace and delivery services.
Market context
The announcement said Greece has been among Europe’s fastest-growing economies in recent years, with real per capita GDP growth consistently outperforming the eurozone average. It also said ecommerce penetration in Greece and southeast Europe remains below western European levels, which it views as creating room for future expansion as markets develop.
What impact do you expect this acquisition to have on Skroutz’s expansion plans in southeast Europe?
