Private members’ club Soho House sold to hotel group MCR in £2billion deal
Soho House has agreed to be bought by a consortium led by hotel group MCR, in a deal which will value the private members’ club business at $2.7billion (£2 billion).
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The hospitality group, which is based in London but listed on the New York Stock Exchange, confirmed that shareholders in Soho House & Co will receive $9 (£6.64) per share in the business.
New York-based hotel giant MCR will be part of a group also including private equity firm Apollo and existing shareholders Ron Burkle and Yucaipa, which will take the business private.
It said Ashton Kutcher, the A-list actor turned tech investor, will also invest in the business and join its board of directors.
Andrew Carnie, chief executive of Soho House & Co, said: “This transaction reflects the strong confidence our existing and incoming shareholders have in the future of Soho House & Co, and the transformation we’ve led since becoming a public company.
“Since our IPO in 2021, we’ve focused on building a stronger, more resilient business.”
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Soho House is a "club for creatives", that advertises itself as a home for "members to come together and belong, wherever they are in the world".
It was started in 1995 by founder Nick Jones, who opened the first Soho House on London’s Greek Street above his restaurant, Cafe Boheme.
Soho House was so named, because it was situated in a Georgian house in Soho.
Today, there are Houses across the world, in locations such as Miami, Toronto, Chicago, Barcelona, Amsterdam, Mumbai, Hong Kong, and more.
The Houses have spaces for drinking, dining, relaxing, working and exercising.