Soho House bought for £2bn as Ashton Kutcher joins board
Summary
Soho House, a private members' club chain, was purchased for $2.7 billion by a group including actor Ashton Kutcher, who will join its board. Despite recent challenges in maintaining exclusivity and profitability, the deal aims to stabilize and grow the business. The acquisition makes Soho House privately owned again, with continued expansion plans in place.Key Facts
- Soho House was sold for $2.7 billion to a group that includes Ashton Kutcher.
- The club chain operates 46 locations in Europe, North America, and Asia.
- Soho House became a public company in 2021 but faced a drop in share value and struggled to make a profit.
- The acquisition was led by MCR Hotels and private equity firm Apollo.
- Founder Nick Jones and other current shareholders will retain their stakes.
- The agreed share price was 18% higher than recent trading prices but still below its 2021 peak.
- The purchase aims to address concerns about Soho House's business model and lost exclusivity.
- Four new Soho House locations are planned to open soon.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.