Soho House to Go Private in $2.7 Billion Deal as Ashton Kutcher Joins Board
Soho House, the private members’ club group synonymous with exclusivity and creative cachet, is set to return to private ownership in a deal worth around $2.7 billion. The agreement, announced this week, will see the company taken off the New York Stock Exchange, just four years after its much-publicised IPO. Adding star power to the mix, actor and tech investor Ashton Kutcher will join the company’s board as part of the shake-up.
The deal is being led by MCR Hotels, a New York-based operator, alongside Soho House founder Nick Jones, executive chairman Ron Burkle, and his Yucaipa investment firm, who will remain majority shareholders. MCR will emerge as a significant new investor in the business, while Kutcher and his investment group are also committing fresh capital. Shareholders are set to receive $9 per share, a premium of almost 18% on Friday’s closing price, although still below the $14 highs reached after the company went public in 2021.
Financing the buyout involves a substantial mix of debt and equity. Private equity giant Apollo Global Management is providing hybrid funding estimated between $700 million and $800 million. Other long-term backers, including businessman Richard Caring, Goldman Sachs Alternatives, and Nick Jones himself, will roll over their existing equity into the transaction.
The return to private ownership comes after a turbulent few years on public markets. Since its IPO, Soho House has seen its share price fall by nearly half, reflecting investor concerns about losses, rising costs, and expansion challenges. The move to take the company private is seen as a strategic reset, removing the pressures of quarterly reporting while allowing management to focus on long-term growth.
Chief executive Andrew Carnie said the deal reflected “confidence in the transformation” of Soho House since its listing, and promised that the business was now well-positioned for its next chapter. Under the new structure, Tyler Morse, CEO of MCR Hotels, will become vice-chair of Soho House, while Kutcher’s appointment to the board is expected to bring both investment acumen and cultural clout.
For members, little will change in the immediate future. Soho House will continue to operate its clubs, hotels, and restaurants across Europe, North America, and Asia, with expansion plans still on the horizon. But with new investment and creative leadership, the brand hopes to reignite its growth story while preserving the intimate atmosphere that has defined it since the first Soho House opened above a café in London’s Greek Street in 1995.
The transaction, approved unanimously by a special independent committee, is expected to close by the end of 2025, subject to regulatory approvals. Once complete, Soho House will officially disappear from the stock market and enter a new era of private ownership.
