The new Chief Executive Officer from Ulta Beauty, Kecia Steelman, continues to carry out significant steps, which this time the place from the investment company Manzanita Capital takes up.
The conditions of the deal were not noticed that the purchase was financed with cash and capacity as part of the existing credit facility of Ulta.
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Press reports from last year indicate that Manzanita was looking for £ 300 million and 400 million pounds for a contract.
Space NK, which has 83 shops in Great Britain and Ireland, is acted as an independent subsidiary of Ulta Beauty and will continue to be managed by his existing management team, including CEO Andy Lightfoot.
“Today’s announcement is an exciting step for the global expansion efforts of Ulta Beauty and adds the British market to our existing planned openings in Mexico and the Middle East later this year,” said Steelman. “Space NK is a popular brand with a strong operating model and customer loyalty, and we could not be enthusiastic to welcome the brand in the Ulta Beauty family.”
Space NK was founded in Covent Garden in 1993 Nicky Kinnaird As a brilliant goal for niche, international brands – many of them skin care – that were difficult to find in Great Britain
It was part of Manzanita Capital for 23 years. Reports that the company tried to sell Space NK was created in April 2024. It was previously tried to invite it in 2018 before deciding to pull the retailer off the market.
Bill Fisher, CEO and founder of Manzanita Capital, said: “I have every trust that Ulta Beauty and this great management team NK will bring to new heights.”
Lightfoot added that he was enthusiastic about the opportunity to connect Ulta Beauty and “to benefit from his size, brand relationships and resources”.
“This acquisition brings both companies on the way to further success and enables us to achieve more beauty enthusiasts worldwide on the size. As a collective power of talented, passionate teams, I am confident that we will bring the NK room to new heights,” he continued.
The US wholesale department of US wholesale Space NKThe cooperation with Walmart and Beauty Spacenk was taken over by PCA Companies in June 2024, which include around 600 sales points in Bloomingdale, Nordstrom, Nordstrom Rack, Hudson’s Bay and the company’s shop-in-shop cooperation with themselves and the company colleague.
Since Stahlman took over the management as CEO of Ulta at the beginning of this year, Steelman has carried out its international expansion. Later this year, Ulta in Mexico will be debut by a joint venture with Axo before he arrives in the Middle East about a license agreement with the Alshaya Group.