Soho House, the global network of members-only clubs, will go private following a $2.7 billion deal led by MCR Hotels. The company had lost nearly half its value since its stock market debut in 2021.
Shareholders will receive £9 per share, a 17.8% increase on the previous closing price, which sent the shares up 16% in pre-market trading. Founder Nick Jones and Ron Burkle’s investment firm Yucaipa will retain majority control.
Ashton Kutcher joins the board of directors, and Neil Thomson has been appointed as the new chief financial officer. The deal has the backing of major shareholder Daniel Loeb.
As a private company, Soho House can now focus on its core business without the pressures of the public market, supported financially by MCR Hotels and other investors.
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