London’s iconic Groucho Club has been sold to group of investors for a rumoured £40m.
The 30-year-old exclusive private members’ club has been snapped up by Alcuin Capital Partners, owners of the Caffè Nero coffee chain and the Krispy Kreme doughnuts UK franchise.
Graphite Capital, the current owner, has sold off its majority stake in the business.
Groucho chief executive Matt Hobbs, said in a statement: “I am pleased to be able to confirm that we have today completed a management buyout of the Club, backed by a new group of shareholders which includes the current owners, Graphite Capital.
“We now also welcome two small institutional investors: Alcuin Capital and Isfield, along with several private individual investors. Happily, I am confident that they all share our passion for the Club and the unique nature of the Groucho and its members.
“I am delighted to tell you that we have also begun to look for a property in lower Manhattan so that we can have a long overdue home for members in New York, with more news on this to follow.”