Groucho Club sold for £40m to Caffe Nero & Krispy Kreme owners

London’s iconic Groucho Club has been sold by Graphite Capital to Alcuin Capital Partners for a rumoured £40m

The exclusive private members’ club, which was founded 30 years ago, has been acquired by the owners of the Caffe Nero coffee chain and the Krispy Kreme doughnuts UK franchise.

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.”