Space NK owner mulls: The upmarket beauty business Space NK may soon be on the market, according to recent press reports. The company’s owner, Manzanita Capital, is reportedly seeking a price of £300 million to £400 million.

According to reports, the beauty chain could be sold in whole or in part by bankers overseen by Manzanita Capital, who invested in Space NK 22 years ago. According to reliable sources, the hiring of bankers may take place soon.

Given Space NK’s strong success recently, the timing of the possible sale seems deliberate. It may be beneficial to sell now, given the company’s expansion plans and the current upswing in the premium/prestige beauty industry.

Space NK has shown remarkable financial development, with its EBITDA nearly tripling in the fiscal year ending March 2023. The company now employs over 1,000 employees and around 76 locations.

Diptyque, a French perfume business, and Susanne Kaufmann, an Austrian luxury skincare brand, are just a few of the well-known beauty companies owned by Manzanita Capital.

After the transaction, Manzanita Capital may or may not want to keep a majority stake in Space NK. There may be stumbling blocks in the sale process since the corporation considered selling in 2018 but eventually opted against it.

Space NK and Manzanita Capital have not yet issued statements regarding the purported sale.