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3h ago

MCR-Led Group to Take Soho House Private for $2.7 Billion at $9 a Share With Ashton Kutcher Joining Board

Returning to private ownership allows the company to pursue long‑term priorities under preserved insider control with Apollo-backed financing.

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Soho House is seen on Greek street, London, Britain, July 13, 2021. REUTERS/Peter Nicholls/File Photo

Overview

  • The all-cash payout to public investors represents about an 18% premium to Friday’s close and reflects a valuation that includes assumed debt.
  • MCR will acquire the publicly traded shares, and CEO Tyler Morse will join the board as vice chairman after closing.
  • Executive chairman Ron Burkle’s Yucaipa and founder Nick Jones will roll their stakes and retain majority control.
  • Apollo is supplying hybrid debt and equity financing alongside other partners, with Ashton Kutcher investing and set to join the board.
  • Soho House named Neil Thomson chief financial officer, and the deal is slated to close by the end of 2025 pending shareholder and regulatory approvals, after which the shares will be delisted from the NYSE.