Ulta Beauty acquired Space NK Limited for approximately $399.2 million (net assets acquired per the finalized purchase price allocation; goodwill of $213.8 million), a transaction completed in July 2025, structured as Acquisition of 100% ownership of Space NK Limited, a luxury/prestige beauty retailer operating in the U.K. and Ireland. Funded with cash on hand and borrowings under Ulta's existing credit facility. Per the finalized purchase price allocation (ASC 805), net assets acquired totaled $399.2 million, including $213.8 million of goodwill and $201.6 million of other intangible assets; the acquisition was disclosed as not material to Ulta's consolidated financial statements (Space NK was ~4% of total assets at January 31, 2026). Space NK operates as a standalone subsidiary led by its pre-acquisition management team..
Space NK Limited operates in International prestige beauty retail (U.K. & Ireland), is based in United Kingdom and Ireland (approximately 86 stores) plus online. On July 10, 2025, Ulta Beauty acquired 100% of Space NK Limited, a leading British prestige-beauty retailer and curator of innovative beauty brands with stores across the U.K. and Ireland plus an online presence. It is Ulta's first sizable, international, and retail (rather than technology) acquisition, giving the U.S. specialty-beauty leader a physical footprint outside North America for the first time. As of January 31, 2026, Ulta operated 84 Space NK stores in the United Kingdom and two in Ireland. The deal was funded with cash on hand and borrowings under Ulta's existing credit facility; per the finalized purchase price allocation, net assets acquired were $399.2 million (including $213.8 million goodwill and $201.6 million of other intangible assets). Space NK operates as a standalone subsidiary and continues to be led by its pre-acquisition management team.
Extends Ulta's specialty-beauty model internationally for the first time via an established prestige-beauty retailer, adding scale in the U.K. and Ireland and a curated assortment of innovative brands; a step-change from Ulta's historically organic, U.S.-only, tuck-in-only growth.
Established prestige-beauty retail platform and brand relationships outside the U.S., giving Ulta an immediate international footprint. Space NK (standalone subsidiary of Ulta Beauty, led by pre-acquisition management) Operates as a standalone subsidiary retaining its pre-acquisition management team; as of January 31, 2026 comprised 84 U.K. and 2 Ireland stores.
Advisory firms were not disclosed for this transaction.