Blackstone has agreed to acquire a majority stake in Skroutz, Greece’s top online marketplace, from CVC Capital Partners Fund VII, marking a significant move in its European digital strategy. The transaction, finalized this week, sees Skroutz’s founders divest partial ownership while retaining leadership roles, ensuring continuity amid shifting ownership. CVC, which held the stake for six years, exits a key holding, signaling portfolio adjustments in private equity. The deal underscores Blackstone’s focus on scaling consumer-centric platforms across Europe, leveraging Skroutz’s regional expertise to bolster its digital marketplace footprint.

Skroutz, operational since 2010, dominates Greece’s e-commerce sector with a 40%+ market share, according to industry estimates. Its acquisition aligns with Blackstone’s broader push into Southern Europe, where digital adoption rates are rising. For CVC, the exit follows a six-year ownership period, reflecting ongoing portfolio rationalization post-2020 market volatility. The transaction values Skroutz at an undisclosed figure, though sources suggest a valuation exceeding $500 million, though specifics remain under wraps.

Founders will maintain a meaningful equity stake, preserving their influence over Skroutz’s operations. This structure balances institutional investment with entrepreneurial oversight, a model Blackstone has employed in prior European tech acquisitions. Analysts note the deal strengthens Blackstone’s position in a sector where cross-border e-commerce is projected to grow 12% annually through 2025. Regulatory scrutiny is expected, given Skroutz’s dominant market position and potential antitrust concerns.

The move highlights a trend of private equity firms prioritizing established regional players with scalable digital infrastructures. Blackstone’s prior investments in similar platforms, such as Veepee in Germany, suggest a template for integrating Skroutz into its global portfolio. With CVC redirecting capital toward high-growth sectors, the transaction signals both firms’ evolving strategies in a post-pandemic investment landscape.