Freud and Cadbury in Groucho Club acquisition
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Freud and Cadbury in Groucho Club acquisition

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Soho's A-list celebrity haunt, The Groucho Club, looks set to be bought out by the newly formed Newco company owned by Rupert Hambro, Joel Cadbury and Matthew Freud. The three men have offered to buy the club at a share price of 266.75p, which values the club at £11.84m. The board, which owns 40 per cent of the club, and whose 315 shareholders include Steve Martin, Salman Rushdie and Lord Archer, has agreed the move. The deal puts pay to Zoo Hotels boss Benjamin Fry renewing his bid to buy the club. Earlier this week Fry wrote to select shareholders asking them to tender their shares to Zoo Hotels in a hostile bid. Last year PR guru Freud and confectionery-heir Cadbury entered the health and fitness sector with the launch of their Third Space concept, a fitness club opening in London this spring that follows the principals of 'healthy hedonism'.

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Soho's A-list celebrity haunt, The Groucho Club, looks set to be bought out by the newly formed Newco company owned by Rupert Hambro, Joel Cadbury and Matthew Freud.
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