Blackstone Inc.

🇺🇸New York Stock Exchange
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Blackstone Inc. stock analysis BX overview
Somewhat Bullish +50

Blackstone acquires Greek e-commerce platform Skroutz from CVC

📈 Blackstone has agreed to acquire a majority stake in Skroutz from CVC Capital Partners at a valuation of €635 million ($747 million).

🤝 The transaction is expected to close in the second half of 2026, pending regulatory approvals.

💼 The deal value doubles CVC's initial investment in the Greek e-commerce platform.

🛒 Skroutz operates a marketplace with 9,000 merchants, over 12 million products, and approximately 2.5 million active users.

🏗️ The company has expanded beyond its core platform to include logistics, fulfillment, retail media, and a fintech arm.

👔 Founders will retain a meaningful ownership position while remaining with the company, with George Chatzigeorgiou staying as CEO.

🚀 Blackstone aims to accelerate innovation and growth, noting that e-commerce penetration in Greece and Southeast Europe remains lower than in Western Europe.

🌍 Skroutz has already expanded into Cyprus and is entering Romania and Bulgaria under its current ownership structure.

🏛️ CVC Capital Partners transformed Skroutz from a price-comparison site into Greece's leading e-commerce marketplace during their tenure.

🇬🇷 Blackstone currently holds other assets in Greece, including Hotel Investment Partners and Fraport Greece.

📉 This acquisition marks an exit point for CVC, which previously held stakes in various Greek companies including Hellenic Healthcare Group and Public Power Corp.

💻 Blackstone highlights its successful track record with other digital marketplace investments like Adevinta and Property Finder.

Bullish Signals
  • Blackstone has agreed to acquire a majority stake in Skroutz at a valuation of €635 million ($747 million), doubling the initial investment made by its previous owner, CVC Capital Partners.
  • Skroutz operates a robust platform with 9,000 merchants listing over 12 million products and serving 2.5 million active users, supported by dedicated logistics, retail media, and fintech infrastructure.
  • The company is well-positioned for growth as e-commerce penetration in Greece and Southeast Europe remains significantly lower than in Western Europe, offering ample room for expansion.
  • Skroutz has successfully expanded beyond its home market by establishing operations in Cyprus and entering Romania and Bulgaria to capture regional opportunities.
  • Leadership stability is ensured with George Chatzigeorgiou remaining as president and CEO, while founders retain a meaningful ownership position to drive continued innovation.
  • Blackstone brings strong experience in the digital marketplace sector through its portfolio companies Adevinta and Property Finder.
  • The deal is backed by Blackstone's existing presence in Greece via assets such as Hotel Investment Partners and Fraport Greece.
  • Transaction close is expected in the second half of 2026, subject to regulatory approvals, providing a clear timeline for this strategic acquisition.
Risk Factors
  • The acquisition is expected to close as late as the second half of 2026, subject to regulatory approvals, introducing significant execution and timing uncertainty.
  • The founders are selling some of their shares despite retaining a meaningful ownership position, which could signal internal concerns about the company's future without the founding team.
Full Analysis
Blackstone has agreed to acquire a majority stake in Skroutz from CVC Capital Partners Fund VII, valuing the Greek e-commerce marketplace at €635 million ($747 million) including debt. The deal is expected to close in the second half of 2026 pending regulatory approvals and will double CVC's initial investment. Founded in 2005, Skroutz operates a platform with approximately 9,000 merchants listing over 12 million products for roughly 2.5 million active users. Beyond its core marketplace, the company has developed logistics and fulfillment infrastructure, a retail media unit, and a licensed fintech arm. As part of the transaction, the founders will retain a meaningful ownership stake and remain in control, with George Chatzigeorgiou staying on as president and CEO. Blackstone noted that e-commerce penetration in Greece and Southeast Europe is lower than in Western Europe, presenting significant room for growth. The company has already expanded its footprint by establishing operations in Cyprus and entering the Romanian and Bulgarian markets. CVC highlighted its role in evolving Skroutz from a price-comparison tool into a leading marketplace through infrastructure investments and enhancements to merchant capabilities and customer experience. Blackstone cited its track record in digital marketplaces, including Adevinta and Property Finder, as well as its existing presence in Greece via Hotel Investment Partners and Fraport Greece.