Ulta Beauty Strengthens International Presence with Space NK Acquisition
Ulta Beauty, has now completed the acquisition of Space NK, a well known iconic British beauty retailer that has curated some of the world’s most innovative and upscale beauty brands. It was acquired in a partnership with Manzanita Capital, and marks Ulta’s first strategic entry into the UK market and advances Ulta’s mission to be a global leader in beauty.
Space NK was founded in 1993 and has evolved into a leading destination for beauty discovery, it operates 83 high-touch stores in the UK and Ireland and a strong e-commerce business. Space NK will operate as an independent subsidiary, continuing with existing leadership under CEO Andy Lightfoot, as part of the acquisition.
“We are thrilled to enter the UK market with such a well-respected and beloved brand,” said Kecia Steelman, President and CEO of Ulta Beauty. “This move aligns perfectly with our international growth strategy and reinforces our mission to bring beauty to life for global consumers.”
This acquisition follows Ulta’s recent moves into Mexico and the Middle East, further strengthening its international growth portfolio. With Ulta’s vast resources and strategic relationships with beauty brands, Space NK is well-equipped to grow and further develop its unique retail model and premium product.
Bill Fisher, CEO and founder of Manzanita Capital, you can reflect on the journey:
“Space NK has been a pillar of our portfolio for more than twenty years. We’re proud of its evolution and excited to see it thrive under Ulta’s leadership.”
Andy Lightfoot added,
“Ulta Beauty’s reputation, scale, and expertise open up exciting possibilities. Together, we’re ready to elevate our mission and serve beauty lovers in even more inspiring ways.”
The acquisition was funded through Ulta Beauty’s existing resources and is not expected to significantly impact its 2025 financial performance.
Legal and financial advisors on the deal included Goldman Sachs and Latham & Watkins for Ulta Beauty, and Raymond James and Bryan Cave Leighton Paisner LLP for Space NK and Manzanita Capital.
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