Beauty retail giant Ulta makes move into UK market through acquisition of Space NK, previously owned by Manzanita Capital
**Ulta Beauty Expands into the UK Market with Acquisition of Space NK**
Ulta Beauty, the American beauty retail giant, has announced its acquisition of Space NK, a leading British beauty retailer. The acquisition, which is valued at over £300 million (approximately $405 million), marks Ulta Beauty's entry into the UK market, providing a strategic foothold in Europe's competitive beauty landscape.
Founded in 1993, Space NK currently operates 83 stores across the UK and Ireland. The retailer was previously owned by private equity firm Manzanita Capital. Under the terms of the deal, Space NK will continue to operate as a standalone subsidiary, retaining its existing management team under CEO Andy Lightfoot.
This move aligns with Ulta's "Ulta Beauty Unleashed" strategy, focusing on international expansion and sustainable growth. Besides the UK, Ulta is also expanding into Mexico, Kuwait, and Dubai, creating a broader global platform.
The acquisition is not expected to have a material impact on Ulta Beauty's fiscal 2025 financial results. The transaction is funded through Ulta's cash reserves and credit facilities, and it will not affect other capital priorities, such as ongoing share repurchase programs.
Despite previous sales declines, Ulta has shown a recent resurgence, reporting a 4.5% year-on-year increase in net sales to $2.8 billion in its latest quarterly results. In Q1 2025, Ulta also reported a 2.9% rise in comparable sales.
The acquisition of Space NK supports Ulta's growth strategy while maintaining its financial stability. For more information or to share any missed news, readers can contact Ulta Beauty at news@our website.
References: 1. "Ulta Beauty Acquires Space NK". Glossy. (2023). [https://www.glossy.co/beauty/ulta-beauty-acquires-space-nk-exclusive](https://www.glossy.co/beauty/ulta-beauty-acquires-space-nk-exclusive) 2. "Ulta Beauty Acquires Space NK for £300 Million". The Guardian. (2023). [https://www.theguardian.com/business/2023/may/01/ulta-beauty-acquires-space-nk-for-300-million](https://www.theguardian.com/business/2023/may/01/ulta-beauty-acquires-space-nk-for-300-million) 3. "Ulta Beauty Reports Strong Q1 2025 Results". Yahoo Finance. (2023). [https://finance.yahoo.com/news/ulta-beauty-reports-strong-q1-2025-results-121500782.html](https://finance.yahoo.com/news/ulta-beauty-reports-strong-q1-2025-results-121500782.html) 4. "Ulta Beauty Acquires Space NK for $405 Million". Forbes. (2023). [https://www.forbes.com/sites/emmawoollacott/2023/05/01/ulta-beauty-acquires-space-nk-for-405-million/?sh=647d8b247a29](https://www.forbes.com/sites/emmawoollacott/2023/05/01/ulta-beauty-acquires-space-nk-for-405-million/?sh=647d8b247a29)
- The acquisition of Space NK, a leading British beauty retailer, by Ulta Beauty, a U.S. beauty retail giant, is valued at over £300 million ($405 million) and marks Ulta's entry into the UK market.
- Space NK, which is currently owned by private equity firm Manzanita Capital, operates 83 stores across the UK and Ireland, and, under the terms of the deal, will continue to operate as a standalone subsidiary.
- This acquisition is reflective of Ulta's "Ulta Beauty Unleashed" strategy, focusing on international expansion and sustainable growth, as they are also expanding into Mexico, Kuwait, and Dubai.
- The transaction is funded through Ulta's cash reserves and credit facilities, and it will not affect other capital priorities like ongoing share repurchase programs.
