Blackstone acquires Skroutz from CVC

Blackstone, the world’s largest alternate plus manager, announced that funds managed by its backstage equity concern person entered into a definitive statement to get a bulk stake successful Skroutz from CVC Capital Partners Fund VII.

Skroutz’s founders will merchantability portion of their shareholding arsenic portion of the transaction, but will stay actively progressive and proceed to pb the company. George Hatzigeorgiou will stay Chief Executive Officer. The transaction is expected to adjacent successful the 2nd fractional of 2026, subject to regulatory approvals.

Skroutz is the astir fashionable e-commerce level successful Greece, offering much than 26 cardinal products from astir 9,000 merchants to 2.5 cardinal progressive users. Founded successful 2005, it has evolved into Greece’s largest marketplace, operating its ain logistics network, including courier services and warehouses, while besides providing integrated warehousing and bid fulfillment services, licensed fintech services, and a rapidly increasing retail media concern for spouse merchants.

Skroutz has expanded beyond the Greek market, establishing a beingness successful Cyprus and, much recently, successful Romania and Bulgaria, arsenic portion of its strategy to grow crossed Southeast Europe.

Greece has ranked among Europe’s fastest-growing economies implicit the past years, with existent GDP per capita maturation consistently exceeding the Eurozone average. At the aforesaid time, e-commerce penetration successful Greece and Southeast Europe remains little than successful Western Europe, creating important maturation imaginable arsenic these markets proceed to mature.

As Alexander Walsh, Senior Managing Director astatine Blackstone, stated, “this concern reflects our assurance successful online buying platforms, arsenic we judge e-commerce penetration successful Europe will proceed to thrust meaningful growth.”

“An outstanding level has been built with a strong brand, which we judge is well positioned to capitalize connected this maturation accidental successful Greece and Southeast Europe. We look guardant to partnering with them to support the company’s continued growth,” helium added.

“A caller section for Skroutz”

Meanwhile, Skroutz Chairman and CEO George Hatzigeorgiou said the improvement marks an important caller section for the company.

“Since its motorboat successful 2005, Skroutz has undergone a highly dynamic transformation and maturation journey. I would similar to explicit my sincere gratitude to CVC for its valuable support implicit the past six years. During this period, Skroutz successfully evolved into a afloat integrated marketplace, further strengthening its enactment position.

“We are arsenic excited astir partnering with Blackstone, whose strong concern expertise successful e-commerce marketplaces and integer platforms makes it an perfect spouse for our aboriginal journey. Building connected the instauration we person created, Blackstone will assistance accelerate our adjacent signifier of innovation and growth.

“I would besides similar to thank my co-founders, the full Skroutz team, arsenic well arsenic our partners and consumers for the trust they spot successful us,” Hatzigeorgiou stated.