A New York-listed firm with a valuation of greater than $21bn is to snap up Area NK, the British excessive avenue magnificence chain.
Ulta Magnificence is known to have registered an acquisition car at Firms Home in current weeks.
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The precise value being paid by Ulta was unclear on Thursday morning, though one supply stated it was prone to be properly in extra of £300m.
Manzanita Capital, a personal funding agency, engaged bankers at Raymond James to supervise an public sale in April 2024.
The agency has owned Area NK for greater than 20 years.
Manzanita has additionally owned the French fragrance home Diptyque and Susanne Kaufmann, an Austrian luxurious skincare model.
Based in 1993 by Nicky Kinnaird, Area NK – which is known as after her initials – trades from dozens of shops and employs greater than 1,000 individuals.
It specialises in high-end skincare and cosmetics merchandise.
Manzanita beforehand explored a sale of Area NK in 2018, hiring Goldman Sachs to deal with a strategic evaluation, however opted to not proceed with a deal.
None of Ulta, Manzanita, Area NK and Raymond James may very well be reached for remark.
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