As rumors swirl about SpaceNK's owner, Manzanita Capital, looking for bankers to sell the retailer for up to £400 million ($506.4 million), The PCA Companies snapped up the US wholesale division.WHO: SpaceNK, the British retailer's North American arm, operates a wholesale model with 600 points of sale across the market including distribution in Nordstrom and Bloomingdale’s, as well as a shop-in-shop partnership with Walmart called Beauty SpaceNK.The PCA Companies is a 30-year-old family-run business which is a vertically integrated, tech-enabled, omnichannel global distribution platform for beauty and wellness brands. Its portfolio of brands includes Fornasetti, Balmain, Thomas Kosmala, JVN, and Pipette. It's revenue is reportedly $850 million supported by a 1,500-person team and omnichannel distribution to 150+ countries.IN THEIR OWN WORDS: “The US business in its current form has been going for about three years. We pivoted out of retail to focus on our version of wholesale,” said Andy Lightfoot, Chief Executive Officer of SpaceNK. “We’ve grown a lot, but we have seen a number of opportunities that we couldn’t fully capitalize on because of the scale of the business in the US." “We saw the businesses becoming more and more differentiated, and the benefits we had leveraged earlier were being diminished, so it was a natural division,” he continued.“SpaceNK on their own have done such an amazing job. It’s meeting the customer where they are today,” said Piyush Golia, CEO of PCA Companies. “Combining forces on this and having focused on just the US part will augment SpaceNK’s success and what they’ve been doing.