The founders of the Hauser & Wirth gallery, Manuela and Iwan Wirth, are increasing their hospitality empire in a serious manner with the acquisition of the personal Groucho membership in Soho, London.
The acquisition of the membership by Artfarm—the couple’s impartial hospitality and growth firm—price £40m in keeping with the Monetary Occasions. Artfarm acquired The Groucho Membership from a gaggle of buyers comprising Alcuin Capital Companions, ICG Enterprise Belief and Isfield Investments, along with quite a lot of personal buyers. The membership has round 5,000 members worldwide.
The Groucho, which opened in 1985, has been a magnet for London’s arts and media crowd, drawing a louche, energetic crowd. Crucially, there are round 150 works within the Groucho assortment, together with items from members comparable to Peter Blake, Gavin Turk, Tracey Emin and Gordon Cheung (artists who contributed have been all given membership of the membership in return). A spokeswoman for Artfarm says that “the works are very a lot half an integral a part of The Groucho Membership and its heritage and can stay so.”
“We’ll respect the historical past and traditions of the membership, and we sit up for partaking with its membership to create a long-term future for the Groucho that builds on its eclectic attraction and maverick ethos,” says Ewan Venters, the chief government of Artfarm in an announcement.
The membership joins Artfarm’s rising portfolio, which incorporates the Fife Arms resort in Braemer, Roth Bar and Grill in Somerset, and the soon-to-open Audley Public Home and Mount St Restaurant and Rooms in London’s Mayfair.
