Blackstone’s agreement with CVC and Skroutzregarding the U.S. investment group’s entry into the Greek marketplace is entering the final stages. The goal is to complete the transaction in October, provided that the necessary approvals are granted by the relevant authorities, according to sources familiar with the process.
Although the deal was officially announced just a few days ago, initial exploratory talks had already begun late last year, when CVC had started the process of seeking an exit from its investment.
Blackstone was not the only interested investor, as Giorgos Avgoustidis, one of the platform’s key shareholders , admitted yesterday . He declined to reveal who else had “knocked on Skroutz’s door” or what factors weighed in Blackstone’s proposal.
He was also tight-lipped regarding the exact terms of the deal—note: Blackstone is acquiring a majority stake, with Skroutz’s valuation set at around 635 million euros—the business plan for the days ahead, and whether Blackstone’s acquisition of a majority stake was a necessary condition for closing the deal.
However, he left open the possibility that Skroutz might pursue acquisitions to expand its footprint both within and outside Greece.
Beyond the transaction, however, Skroutz has undergone a radical transformation in recent years. From a price comparison platform, it has evolved into an e-commerce ecosystem.
In fact, over the past five years, the volume of shipments it handles has increased tenfold. This is partly due to acquisitions, such as EveryPay, which strengthened its presence in online payments, while SendX served as the foundation for the development of its last-mile delivery network.
For 2025, revenue is estimated to have reached nearly €150 million. Logistics is now the central pillar of the business model, and Skroutz is investing in this area. The partnership with ACS is expanding into areas where the company does not yet have full operational coverage, primarily on islands and in regional markets, while the development of the Skroutz Point Lockers network is accelerating.
Over 50% of shipments are now made through these locations, with the network comprising approximately 2,500 sites and more than 90,000 lockers in Greece and Cyprus.
Regarding relationships with merchants partnering with the platform, fees average around 10% of the transaction value. For its part, the company maintains that its pricing policy remains competitive compared to major European marketplaces, noting that while there have been increases in certain categories, in others there have been downward adjustments, depending on operating costs and the range of services provided.