Soho House, the global chain of private members’ clubs, is set to return to private ownership after agreeing to a $2.7 billion (£1.99 billion) buyout led by hotel group MCR. The transaction will see the London-based hospitality brand delisted from the New York Stock Exchange.
The deal also comes with a celebrity twist—actor and investor Ashton Kutcher is heading a consortium providing new funding for the business and will join Soho House’s board once the takeover is finalized. MCR, the third-largest hotel owner-operator in the U.S. and owner of London’s BT Tower, is leading the acquisition.
Despite the change in ownership structure, key stakeholders will maintain their control. Billionaire executive chairman Ron Burkle and his private equity firm Yucaipa, along with founder Nick Jones, will retain their majority stakes in the company. Under the terms, common shareholders will receive $9 per share in cash, a significant premium to Friday’s closing price.
Soho House shares surged in response, climbing 16% in pre-market trading to $8.86. The business, founded in London in 1995 by restaurateur Nick Jones as a creative hub, has since expanded across Europe, North America, and Asia, gaining a reputation for design-led spaces and exclusivity.
The return to private ownership comes just three years after Soho House went public in 2021. Despite its global expansion, the company has faced persistent challenges in achieving profitability. A special committee was formed last year to evaluate options, leading to the December offer that set the stage for this latest buyout.
Source: Sky News
