Soho House goes private in $2.7B buyout led by Ron Burkle

Soho House has gone private again in a $2.7 billion deal helmed by billionaire Ron Burkle, the members-only club announced Thursday. Investors in the transaction include Ashton Kutcher, who will now join the company’s board of directors, as well as Goldman Sachs and Apollo Global Management, the announcement said.

Burkle has been the company’s majority shareholder since 2012 and led the buyout. In an email seen by Page Six, CEO Andrew Carnie called the move “a positive step,” saying 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.” The company said it is renovating all the bedrooms at its HQ in the Meatpacking District and plans a two-floor “social wellness space” offering diagnostic testing, IVs, contrast suites, hyperbaric chambers and red light therapy.

It also plans the Soho House Festival in Manhattan on Oct. 3, special dinners at the under-construction Soho Farmhouse New York in Rhinebeck, and a new, larger Soho House in the Flatiron District with a Soho Health Club and rooftop terrace. Soho House went public in 2021 at $14 a share; its stock has fluctuated as losses mounted, though the Wall Street Journal recently reported improved results.

Revenue rose 11% year-over-year in the quarter ended Sept.

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