US fund to buy out Skroutz

Online marketplace Skroutz, which started arsenic a “game” by a radical of radical successful Nea Ionia successful Athens and evolved implicit the years into the largest Greek marketplace, adjacent withstanding contention from Chinese e-commerce platforms, is being taken implicit by Blackstone, the largest alternate plus manager successful the world, with the purpose of becoming a determination e-commerce powerhouse successful the Southeastern European region.

The bulk stake acquired by the US money comes from the 45% held by the CVC money since 2020 – which is making different divestment – arsenic well arsenic from portion of the stake held by the founders of Skroutz, who will stay progressive successful the institution and adjacent successful the absorption team. Co-founder George Chatzigeorgiou will stay arsenic CEO. 

Although the terms has not been announced, an indicative bid of magnitude is shown by the company’s valuation astatine €650 million, compared to the valuation of €250 cardinal when successful April 2020, successful the midst of lockdown, the CVC money entered Skroutz’s stock capital.

Blackstone is taking power of the full “ecosystem” of Skroutz, namely the Everypay outgo work that Skroutz afloat acquired successful 2022, Skroutz Last Mile, the organisation institution that was created successful 2021 and presently has implicit 81,000 locker locations (automated parcel pickup boxes) and a fleet of implicit 600 vehicles for distribution, and the subsidiary successful Cyprus. Since 2024, Skroutz has besides established a subsidiary focusing connected buying and selling existent estate. 

The stores cooperating with Skroutz transcend 9,000, and it has 2.5 cardinal progressive users, while employees successful the genitor institution unsocial transcend 600.

Why did Blackstone determine to put successful Skroutz? E-commerce whitethorn person experienced unprecedented maturation successful Greece successful 2020, arsenic for a agelong clip it was the lone buying option, but the maturation continued adjacent aft the so-called instrumentality to normality and the extremity of the pandemic. Skroutz’s revenue, from €30 cardinal successful 2020, reached €131 cardinal successful 2024, according to the company’s latest published fiscal report, and present it is €150 million.