Ashton Kutcher will join the board of the company, an operator of private clubs, which has faced criticism from investors over its business model.

The take-private offer values the company at roughly $1.8bn, excluding debt, and hands investors a premium over Friday’s $7.60 close — though still well shy of the $14 price tag when Soho House floated in 2021. A deal could be announced as early as this week.

Soho House is going private in a $2.7 billion deal led by New York-based MCR Hotels, capping a turbulent market run and financial struggles for the operator of high-end members’ clubs since it went public in 2021.