Private equity giant Blackstone (BX.US) acquires majority stake in e-commerce platform Skroutz, further expanding its footprint in the Greek market.

One of the world's largest alternative asset management firms, Blackstone Inc. (BX.US), has agreed to acquire a majority stake in Greece's online e-commerce platform, Skroutz, from CVC Capital Partners Plc, in order to expand its business footprint in the Mediterranean country. According to a statement, the founders of Skroutz will sell a portion of their shares, but will still retain ownership and continue to lead the company's operations, with George Chatzigeorgiou remaining as the CEO. Although the financial details of the transaction were not disclosed, sources familiar with the matter have stated that the valuation of Skroutz in this deal is 635 million euros (approximately 746 million US dollars), including debt. Skroutz is one of Greece's largest and most influential e-commerce platforms. The platform has been expanding from its domestic market to Cyprus, Romania, and Bulgaria. The e-commerce platform brings together about 9,000 merchants, offering over 12 million products, with an active user base of around 2.5 million people. Skroutz also has a logistics branch and has deployed 1000 SwipBox lockers in Greece to support fast pickups and parcel tracking. Additionally, the company also has licensed fintech and retail media businesses. Over the past decade, Greece has transformed from an economic "orphan" avoided by investors to a model of fiscal prudence, with economic growth surpassing the European average. Data shows that Greece's GDP is expected to grow by 2.1% in 2025, with economic growth projected to remain around 2% in 2026. Furthermore, Greece's unemployment rate in December 2025 fell to 7.5%, the lowest level in 18 years. The declining unemployment rate, especially the improvement in youth unemployment, has supported a consumer recovery and formed a virtuous cycle of economic development. Blackstone Inc.'s other investments in Greece include Hotel Investment Partners - which owns hotel assets across Greece, and Fraport Greece - which operates regional airports including those on Corfu, Rhodes, and Crete. CVC, Blackstone's counterpart in this deal, was one of the first large private equity firms to enter the Greek market, and has supported local companies such as Hellenic Healthcare Group, insurer Ethniki, and power company Public Power Corp.