Ulta Beauty has purchased Space NK from Manzanita Capital, a private equity firm specializing in the beauty industry. Space NK, which debuted in 1993, now operates 83 stores in the UK and Ireland; following the acquisition, it will operate as a standalone subsidiary of Ulta Beauty and continue to be led by its current management team, including CEO Andy Lightfoot.
“International expansion is an integral part of our Ulta Beauty Unleashed plan, and the acquisition of Space NK offers a unique and strategically compelling opportunity to enter the growing UK market with a successful and growing brand,” said Kecia Steelman, President and CEO of Ulta Beauty in a statement. “Along with our initiatives in Mexico and the Middle East, we are creating a broader platform for Ulta Beauty to unlock long-term, profitable growth.”
While no dollar amount for the purchase was provided, the company said it will be funded with cash on hand and capacity under Ulta Beauty’s existing credit facility and is not expected to be material to the company’s 2025 financial results. For Q1 2025, which ended May 3, 2025, Ulta Beauty generated $2.8 billion in net sales, a 4.5% increase over the same period the previous year. Comparable sales also increased, by 2.9%.
In March 2022 Walmart partnered with Space NK to bring a selection of 600 prestige beauty brand products to nearly 250 stores.
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