Ron Burkle, the company’s executive chairman and his The Yucaipa Companies will re-invest in the deal with Apollo Global Management and Goldman Sachs AM as equity and debt investors
US leisure and hotel group MCR Investors, Tyler Morse and a club deal that Hollywood actor Ashton Kutcher heads signed a definitive agreement for acquiring a relevant stake of Soho House & Co Inc, a London network of private clubs born in 1995 that listed on NYSE in 2021. The buyers announced the deal on 18 August, Monday, and said that the target’s main shareholders agreed to carry on a delisting. The closing may take place by the end of 2025 upon the approval of Soho House shareholders and of regulatory authorities (press release, the SEC note and the bidders filing with the agreement details).
Soho launched its 2021 NYSE IPO at 14 US Dollars per share and in 2023 it reached an above 17 US Dollars peak. A far lower share price pushed the board of directors to a strategic review and the current delisting.
Soho House attracted a 9 US Dollars per share offer (83% reward on 18 December 2024 closing price) on the ground of an enterprise value of 2.7 billion US Dollars. On 19 December 2024, the directors appointed a special committee for the assessment of strategic proposals following the receipt of a non-binding preliminary offer from an investor consortium whose members were not disclosed at that time (see here the press release). The offer was conditional on some significant shareholders of Soho House, including Ron Burkle and his private equity The Yucaipa Companies, to reinvest in MCR-Soho.
In August 2025, Soho said that Burkle and Yucaipa Companies will reinvest in the company and keep the majority of the business. Goldman Sachs Alternatives, which invested in Soho in 2021 through hybrid capital, Richard Caring (the owner of iconic private clubs Annabel’s, Mark’s Club, Harry’s Bar, the Bath & Racquets Club, and George) and Nick Jones will carry on a partial exit.
Kutcher will join Soho board of directors. Apollo Global Management’s hybrid debt and private equity funds and Goldman Sachs AM will provide resources for 845 million US Dollars for refinancing the target’s liabilities and buying back part of the bonds that the company previously issued.
Nick Jones, opened in London the first Soho House in 1995. The network operates in 46 locations in Europe, USA and the Middle East and managed 8 Soho Works co-working areas. The company also owns the brands The Ned, Scorpios, Soho Home, many lifestyle asset,  and a digital platform for its 190000 associates (see the last investors presentation here).
MCR portfolio includes iconic assets TWA Hotel – New York JFK Airport, The High Line Hotel and London BT Tower that acquired for 275 million GBPs in February 2024 (see the press release here).
After the Soho delisting and acquisition, MCR will consolidate its position in the high-end lifestyle and hospitality segment and will carry on investments in technology and new formats for the target.
