Ron Burkle increases stake in Soho House
Soho House & Co majority shareholder Ron Burkle has increased the size of his holding in the business by 1% by taking a small equity stake from founder Nick Jones (pictured).
It is understood that, should trading conditions become even more challenging in the months ahead, Jones is well placed to invest further in Soho House as necessary, in partnership with the existing shareholders.
The move will also allow Jones to continue to contribute to the Soho Impact Support Fund, set up at the start of pandemic to support Soho House staff members in need of extra financial support, to which he has already been contributing 40% of his salary.
From opening a private members' club in London's Soho in 1995, Nick Jones has gone on to create a global phenomenon with the business and was 2015 Hotelier of the Year. The group's properties include Babington House in Somerset, Soho Farmhouse in Oxfordshire and the Ned in London.
Over the years, Jones has sold shares in Soho House & Co to fund expansion. American billionaire businessman Burkle is believed to own a stake of approximately 60%, acquired for £250m in 2012, while 30% is held by restaurateur Richard Caring and Jones holds the remaining 10%.
