Soho House has gone private again in a $2.7 billion deal helmed by billionaire Ron Burkle, the members-only club announced Thursday.
Investors include Ashton Kutcher, who will now join the company’s board of directors, as well as Goldman Sachs and Apollo Global Management.
In an email seen by Page Six, CEO Andrew Carnie wrote, “This is a positive step. It gives us the freedom to focus on what Soho House has always been about: looking after our members, creating Houses you enjoy spending time in, and continuing to connect members in the world’s most inspiring cities….we have an exciting year and future ahead of us.”
Meanwhile, the company is renovating all the bedrooms at its HQ in the Meatpacking District, where it also plans to open a “social wellness space” over two floors, that we’re told will offer diagnostic testing, IVs, contrast suites, hyperbaric chambers, and red light therapy.
It also plans to launch the Soho House Festival in Manhattan on October 3.
Construction is still ongoing at Soho Farmhouse New York in Rhinebeck, but there are plans to host a series of special dinners with guest chefs at the site.
And later this year, work will start on New York City’s fourth and largest Soho House in the Flatiron District, with a Soho Health Club, a rooftop terrace, and additional bedrooms.
Meanwhile, on the West Coast, the company is adding a gym on the rooftop at Soho House Holloway, and opening Soho House Los Cabos.
Soho Desert House Palm Springs, set in the Coachella Valley, will open next year, alongside Soho Ranch House,in Sonoma.
Soho House went public in 2021 at $14 a share and the stock price has bounced around as losses mounted.
But the Wall Street Journal reported this month the company’s financial results have improved. Revenue rose 11% from a year earlier in the quarter ended Sept. 28, though it posted a nearly $19 million loss after two quarters of profitability.
Burkle, who has been the majority shareholder of Soho House since 2012, helmed the deal, with investors including Goldman Sachs Asset Management and Apollo Global Management.
Carnie added, “We’re investing in what made Soho House special from the beginning…there’s never been a better time to be a member.”
The club was launched in London in 1995 and opened its first U.S. location in New York in 2003.
It now has more than 40 clubs worldwide.
