Billionaire Burkle Buys 60% Stake in Soho House, Times Reports

Billionaire Ron Burkle has acquired a 60 percent stake in Soho House Group from the owners Richard Caring and Nick Jones and will become chairman of the company, the Times of London reported.

The private members’ club chain was valued at about 250 million pounds ($382 million), the newspaper reported, without saying where it got the information. The company’s net debt is expected to drop to 50 million pounds from 90 million pounds, while new openings are planned in Mumbai, Istanbul, Toronto and Chicago in the next two years, the Times reported. Jones will remain the chief executive officer, the newspaper said.

To contact the reporter on this story: Maria Kolesnikova in London at mkolesnikova@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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