Ulta Beauty has scooped up UK beauty retailer SpaceNK Limited from Manzanita Capital.WHO: SpaceNK was founded in Covent Garden in 1993 by Nicky Kinnaird as a destination for niche, international brands, many of which were difficult to find in the UK. Manzanita Capital acquired the retailer in 2002. Today, SpaceNK is a unique destination for beauty discovery, operating 83 locations across the UK and Ireland along with its online platform, and employing more than 1,000 people.Manzanita Capital is a specialist investor focused on developing luxury and premium beauty companies into enduring global brands. Unconstrained by strict investment horizons, its long-term perspective is backed by patient family capital.Ulta Beauty is the largest specialty US beauty retailer and the premier destination for beauty products and salon services. In 1990, the company reinvented the beauty retail experience by offering a new way to shop for beauty, bringing together All Things Beauty, All in One Place. Today, Ulta Beauty operates 1,451 retail stores across 50 states and distributes products through its website.WHY: Following deals in Mexico through a joint venture with Axo and in the Middle East via a licensing agreement with Alshaya Group, this transaction represents a decisive move into the UK market, aligning with the retailer's broader international growth ambitions.IN THEIR OWN WORDS: “We are excited to enter the UK market via the SpaceNK banner,” said Kecia Steelman, President and Chief Executive Officer of Ulta Beauty.