American cosmetics retailer Ulta Beauty has announced that it has acquired British beauty retailer Space NK from Manzanita Capital, a beauty sector specialist investor with a long-term investment horizon. 

Space NK is a curator of some of the world’s most innovative beauty brands and a go-to destination for beauty discovery in its 83 stores in the UK and Ireland and online. Space NK will operate as a standalone subsidiary of Ulta Beauty and will continue to be led by its existing management team, including Space NK Chief Executive Officer Andy Lightfoot.

The purchase of Space NK was funded with cash on hand and capacity under Ulta Beauty’s existing credit facility. The acquisition is not expected to be material to Ulta Beauty’s fiscal 2025 financial results and will not impact execution of its capital allocation priorities, including its share repurchase program.

Financial terms of the transaction were not disclosed.

For more information, visit ulta.com.