Ulta Beauty (ULTA) announced that it has acquired Space NK, a British beauty retailer, from Manzanita Capital. Financial terms of the transaction were not disclosed. 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.
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