Private members' club business Soho House is being acquired by a consortium led by MCR Hotels for £2 billion.
The deal includes backing from Hollywood actor and tech investor Ashton Kutcher, who will join the company's board of directors.
Shareholders will receive nine dollars (£6.64) per share in cash, according to Bloomberg, representing an 83% premium over the December 18 closing stock price.
New York-based hotel giant MCR is leading a consortium that also includes private equity firm Apollo. The transaction will take Soho House private.
Several existing shareholders will retain their stakes in the company, including founder Nick Jones, Ron Burkle, and Ivy Collection boss Richard Caring.
Soho House currently operates 46 private members' club sites worldwide, eight Soho Works co-working spaces, and Scorpios Beach Clubs in Mykonos and Bodrum. The company also owns the Ned hotel and numerous other hospitality businesses across its portfolio.
The business was founded as a single private members' club in central London in 1995 but has since expanded globally.
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 (initial public offering) in 2021, we’ve focused on building a stronger, more resilient business.
“I’m incredibly proud of what our teams have accomplished and am excited about our future, as we continue to be guided by our members and grounded in the spirit that makes Soho House so special.”
Sources used: "PA Media", "Bloomberg", "Independent" Note: This article has been edited with the help of Artificial Intelligence.
