Soho House is ending its tumultuous life on the public markets after agreeing to be taken over by a US hotel giant in a $1.8bn (£1.3bn) deal.

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.