M&A

Ulta Beauty announced Thursday that it has purchased U.K.-based specialty beauty retailer SpaceNK Limited from PE firm Manzanita Capital. Space NK currently operates 83 specialty beauty stores across the UK and Ireland and sold its internal U.S. distribution company, which served Bloomingdale’s and Nordstrom, to PCA Companies in 2024. Ulta Beauty’s acquisition will help to fuel CEO Kecia Steelman’s “Ulta Beauty Unleashed” plan, which also includes international expansion through global franchise managers into Mexico City, Kuwait City and Dubai later this year.