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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ULTA:
- Ulta Beauty to purchase Space NK from Manzanita Capital, Sky News says
- Ulta Beauty price target raised to $550 from $485 at DA Davidson
- DA Davidson to hold an analyst/industry conference call
- Ulta Beauty Appoints Interim CFO Amid Leadership Change
- Ulta Beauty’s Strategic Leadership Changes and Reaffirmed Financial Guidance Drive Buy Rating