American Billionaire Ron Burkle has acquired majority ownership of the popular UK club Soho House. Nick Jones, who originally founded the club in London 17 years ago, confirmed the sale in an email to Soho House members.
Although Soho House began in London, it eventually became an entire network of clubs, hotels and restaurants, with real estate in Berlin, Miami, and Hollywood. Burkle heads the investment firm Yucaipa and purchased a 50 percent share of the company from British billionaire Richard Caring, as well as a 10 percent share from Jones.
Jones said in the email that he believes Burkle’s vision will be good for the company, which he hopes to expand and improve. Burkle will become chair of the organization, while Jones will remain chief executive. Jones will hold on to another 10 percent of the group.
“We believe that the combination of Yucaipa’s track record and the unique leadership position that Nick and Richard have created in this space will result in the continued global growth of the brand,” said Burkle in a statement.
The original Soho House club building was located on Greek Street in Soho, London, England. The group now has nine clubs in Notting Hill, Chiswick, Shoreditch, Babington, Manhattan, Miami, Berlin, and West Hollywood. It remains a members-only club, and it is reportedly extremely difficult to gain membership. Members are almost exclusively from artistic professions, such as acting and fashion.