US listed Ulta Beauty Shoops on the High Street Chain Space NK | Money news

A company listed in New York with an evaluation of more than 21 billion USD is to snap Space NK, the British High Street Beauty Chain.

Sky News has learned that Ulta Beauty, who works almost 1,500 shops, is about to buy space from the existing owner Manzanita Capital.

It is assumed that Ulta Beauty has registered an acquisition vehicle at Companies House in recent weeks.

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The exact price paid by Ulta was unclear on Thursday morning, although a source said that it would probably be well over 300 million GBP.

Manzanita Capital, a private investment company, committed bankers in Raymond James to monitor an auction in April 2024.

The company has had Space NK for more than 20 years.

Manzanita also has the French perfume house Diptyque and Susanne Kaufmann, an Austrian luxury skin tare.

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The in 1993 by Nicky Kinnaird, Space NK, which is named after its initials, is from dozens of shops and employs more than 1,000 people.

It specializes in high-end skin care and cosmetic products.

Manzanita previously examined a sale of Space NK in 2018 and hired Goldman Sachs for a strategic review, but decided not to continue with a deal.

None of Ulta, Manzanita, Space NK and Raymond James could be reached for a comment.