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Hospitality group Artfarm has bought London’s Groucho Club in Soho for an undisclosed sum.
While the total valuation of the deal has not been disclosed, according to the Financial Times it was acquired for £40m .
The Groucho Club has acted as a hub for the arts, literature, and media community in the capital for almost 40 years.The Groucho Club was founded in 1985 by a group of female publishers as an alternative to London’s male-dominated private members clubs. It takes its name from the Groucho Marx quote: “I don’t want to belong to any club that will accept me as a member.”
Artfarm, which was founded in 2014, has acquired the venue from a group of investors, Alcuin Capital Partners, ICG Enterprise Trust and Isfield Investments, alongside several private investors.
The acquisition sees another enterprise enter Artfarm’s growing portfolio, which includes the Fife Arms in Braemer, Roth Bar and Grill in Somerset, Manuela in Los Angeles and Audley Public House and Mount St Restaurant and Rooms in London’s Mayfair which will be opening this year.
Ewan Venters, CEO of Artfarm, said: “As a member for some time myself, I understand the special place the Groucho occupies in London’s cultural landscape. Under Artfarm’s ownership, the future of the club is assured.
“We will respect the history and traditions of the club, and we look forward to engaging with its membership to create a long-term future for the Groucho that builds on its eclectic appeal and maverick ethos. I think Artfarm and the Groucho are, in many ways, kindred spirits, and I am excited at the prospect of welcoming members old and new to this legendary London club.”
Nick Hurrell, chairman of the Groucho Club, added: “I am delighted that we have reached agreement with Artfarm, who are the perfect owners for the Groucho. Their mix of cultural engagement, pedigree in art and excellence in hospitality sits very well with the particular spirit of a members’ club that has been an important part of London’s cultural life for many years. To our 5,000 members around the world, I’d say that the future has never looked brighter.”
