Celebrity hotspot club Soho House - whose fans include Harry and Meghan - sold in £2billion deal backed by Hollywood A-lister
The celebrity hotspot, frequented by the likes of Prince Harry and Meghan Markle, is being taken over by a group of investors, including Ashton Kutcher, in a deal worth around $2.7 billion (£2 billion).
The hospitality group, which is based in London but listed on the New York Stock Exchange, confirmed shareholders in Soho House & Co will receive $9 (£6.64) per share in the business.
New York-based hotel giant MCR Hotels is leading the consortium, also including private equity firm Apollo, which struck the deal to take the company private.
It will pay £2 billion to snap up the business, including its $700m (£5.1m) debts.
A raft of existing shareholders, including Ron Burkle, Ivy Collection boss Richard Caring and founder Nick Jones, will retain their stakes in the company.
A-list actor-turned-tech investor Mr Kutcher will also invest in Soho House as part of the deal and will join the firm's board of directors.
MCR boss Tyler Morse will also join the board as vice chairman following the takeover.
Soho House was founded as a single private members' club in the central London area in 1995 but has since expanded globally with a portfolio of exclusive venues.
Famous faces are often seen at their various branches across the world, including Victoria Beckham, Tom Cruise, Margot Robbie, Leonardo DiCaprio and Taylor Swift.
The business currently runs 46 Soho House sites, eight Soho Works and Scorpios Beach Clubs in Mykonos and Bodrum. It also owns the Ned and numerous other hospitality businesses.
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.'
Mr Morse said: 'All of us at MCR are excited to be part of the Soho House journey, helping to create more experiences, interactions and memories alongside friends and members.
'We have long admired Soho House for bringing together cultures from around the world into a global network of 46 houses, and we look forward to the continued growth of that fabric, starting with four new houses opening soon.'
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