Prime Highlights-
- Blackstone will acquire Greek e-commerce platform Skroutz in a deal valued at about 635 million euros.
- The transaction is expected to allow CVC Capital Partners to double its original investment in the company.
Key Facts-
- Skroutz operates online shopping, price comparison and delivery services in Greece.
- Skroutz CEO George Chatzigeorgiou will continue leading the company after the acquisition.
Background-
Blackstone has agreed to acquire Greek e-commerce platform Skroutz from CVC Capital Partners in a deal valuing the company, including debt, at about 635 million euros.
The transaction marks another major investment in Greece’s growing digital commerce sector and is expected to deliver strong returns for CVC. People familiar with the matter said the deal will allow the investment firm to roughly double its original investment in Skroutz.
As part of the agreement, Skroutz founders will sell part of their holdings but will continue to retain a stake in the company. The existing leadership team will also remain in place after the acquisition, with George Chatzigeorgiou continuing as chief executive officer.
Skroutz has built a strong presence in the Greek online retail market by offering price comparison services, online shopping and delivery solutions. The company has expanded steadily as e-commerce adoption increased across the country.
The acquisition adds to Blackstone’s investments in technology and digital platforms across Europe. The deal also reflects continued investor interest in profitable online commerce businesses with established market positions.
CVC has remained active in Greece through multiple investments in recent years. Last year, the firm sold a majority stake in Greek insurer Ethniki Insurance to Piraeus Financial Holdings for about 600 million euros.
The latest transaction is expected to strengthen Skroutz’s long-term growth plans while maintaining leadership continuity at the company.
