Since going public in 2021, Soho House – an upscale private members’ club frequented by A-listers, musicians, artists and other celebrity-adjacent individuals – has experienced a sharp decline in share value. The company has struggled to turn a profit despite growth in membership and revenue, according to Reuters.

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 implies a total enterprise value of roughly $2.7 billion for Soho House, including debt.