Blackstone to acquire Greek e-commerce entity Skroutz

US concern institution Blackstone has agreed to acquisition a bulk involvement successful Greek online marketplace Skroutz from CVC Capital Partners Fund VII.

As portion of the transaction, the company’s founders volition merchantability portion of their holdings, portion keeping a involvement and remaining successful enactment positions.

George Chatzigeorgiou volition enactment connected arsenic main enforcement officer.

Chatzigeorgiou said: “This marks a important caller section for Skroutz. Since its motorboat successful 2005, the institution has undergone a important travel of transformational growth.

“As we physique connected the instauration we person created, Blackstone volition assistance accelerate our adjacent signifier of innovation and growth. I would similar to convey my co-founders, the full Skroutz team, and our partners and users for the assurance they person placed successful us.”

The woody is expected to beryllium completed successful the 2nd fractional of 2026 and is taxable to regulatory approvals.

Although its fiscal presumption person not been disclosed, a root told Reuters that the woody values Skroutz astatine €635m ($747m), including debt.

Founded successful 2005, Skroutz runs a vertically integrated e-commerce platform.

According to the property statement, the concern provides much than 12 cardinal products from 9,000 merchants to astir 2.5 cardinal progressive users.

In summation to its main marketplace, the institution operates proprietary last-mile logistics, fulfilment services, a licensed fintech offering, and a retail media business.

The institution has besides expanded extracurricular Greece successful caller years, mounting up operations successful Cyprus, Romania, and Bulgaria arsenic it looks to widen its footprint crossed Southeast Europe.

Blackstone said e-commerce penetration successful Greece and Southeast Europe is inactive beneath levels seen successful Western Europe, which it regards arsenic an accidental for maturation arsenic those markets develop.

It besides said Greece has been among Europe’s “fastest-growing” economies successful caller years, with existent gross home merchandise (GDP) per capita maturation consistently supra the eurozone average.

The transaction adds to Blackstone’s integer marketplace portfolio, which includes Adevinta, described arsenic the online classifieds platform, and Property Finder, a spot portal operating crossed the Middle East and North Africa.

Blackstone elder managing manager Alexander Walsh said: “This concern builds connected our condemnation successful integer user platforms, wherever we judge e-commerce penetration crossed Europe volition proceed to thrust meaningful growth.

“George and the Skroutz squad person built a standout level with a almighty brand, which we judge is good placed to seizure this maturation accidental crossed Greece and Southeastern Europe.”