Blackstone’s Positive €635M Skroutz Deal Signals New Growth Era for Southeast European E-Commerce
Global investment giant Blackstone has agreed to acquire a majority stake in Greek e-commerce platform Skroutz from CVC Capital Partners in a deal valued at approximately €635 million, including debt. The acquisition marks one of the most significant recent e-commerce transactions in Southeast Europe and highlights growing investor confidence in the region’s digital retail ecosystem.
Originally founded in 2005 as a price-comparison platform, Skroutz has evolved into Greece’s leading online marketplace, now offering more than 26 million products from around 9,000 merchants to approximately 2.5 million active users. Over the years, the company expanded its operations beyond marketplace services into logistics, fulfillment, fintech, retail media, and last-mile delivery infrastructure.
Why the Blackstone–Skroutz Deal Matters for the E-Commerce Industry
The transaction reflects a broader trend of major global investment firms targeting regional digital commerce leaders with strong infrastructure and long-term expansion potential. Blackstone sees Skroutz as more than just an online marketplace; the company has built a vertically integrated ecosystem that includes payment services, logistics operations, and fulfillment capabilities across Greece and neighboring markets.
Skroutz has already expanded into Cyprus, Romania, and Bulgaria, positioning itself as an emerging regional player in Southeast Europe. Analysts believe Blackstone’s backing could accelerate this growth strategy and strengthen the platform’s competitiveness against global marketplaces and rapidly growing Asian e-commerce platforms.
Economic Growth and Digital Retail Expansion in Greece
The acquisition also underlines the rapid transformation of Greece’s digital economy. Greece has become one of Europe’s faster-growing economies in recent years, while e-commerce penetration across Southeast Europe still remains below Western European levels , creating significant room for future growth.
According to reports, Skroutz’s revenue grew from approximately €30 million in 2020 to more than €130 million by 2024, driven by rising online shopping adoption, stronger logistics capabilities, and expanding merchant participation.
Despite the ownership change, Skroutz’s founders will remain actively involved in the company. Co-founder George Chatzigeorgiou is expected to continue serving as CEO, while the founding team retains a minority stake in the business.