Ulta Beauty has acquired British beauty retailer Space NK from private equity firm Manzanita Capital, in a strategic move to accelerate its international expansion efforts.

Founded in 1993, Space NK currently operates 83 stores across the UK and Ireland. Following the acquisition, the company will continue to run as a standalone subsidiary under the leadership of its existing 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.

The transaction will be financed through Ulta’s available cash and existing credit facility. The company noted that the acquisition is not expected to have a material impact on its 2025 financial performance. For Q1 2025, Ulta reported $2.8bn in net sales, a 4.5% increase from the previous year, and a 2.9% rise in comparable sales.

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