A New York-listed firm with a valuation of greater than $21bn is to snap up House NK, the British excessive avenue magnificence chain.
Ulta Magnificence is known to have registered an acquisition automobile at Firms Home in latest weeks.
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The precise worth being paid by Ulta was unclear on Thursday morning, though one supply stated it was more likely to be effectively 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 House 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, House NK – which is called after her initials – trades from dozens of shops and employs greater than 1,000 folks.
It specialises in high-end skincare and cosmetics merchandise.
Manzanita beforehand explored a sale of House NK in 2018, hiring Goldman Sachs to deal with a strategic assessment, however opted to not proceed with a deal.
None of Ulta, Manzanita, House NK and Raymond James might be reached for remark.
