Space NK Apothecary's proprietor initiates high-value auction, estimated at over £300 million.
News Flash: Space NK Sale Process Kicks Off Amid Economic Anxiety
Hey there! It's time to talk shop, y'all! The high-end beauty chain, Space NK, is in the business of changing hands, and it's been a while since this dance started. Almost a year ago, Manzanita Capital, its current owner, hired bankers from Raymond James to orchestrate the sale.
Recent whispers suggest that potential bidders have been receiving some intriguing teasers. But let's be real, the economic climate in the UK ain't exactly booming, leaving some tension in the air.
Manzanita put their auction plans into motion back in April 2024, and guess what? They're seriously considering a deal. Rather be picky than rush into something, right? The lucky buyer better prepare to fork over a pretty penny—we're talking between £300m to £400m.
But worry not about Space NK's financial health. One of the folks we've spoken to for a potential bid doesn't seem too concerned about its financial standing.
Besides Space NK, Manzanita also has perched itself on the throne of Diptyque, a French perfume house, and Susanne Kaufmann, an Austrian luxury skincare brand.
Space NK, founded by Nicky Kinnaird in 1993, boasts a portfolio of over 100 stores and employs over a grand workforce. This beauty mogul specializes in premium skincare and cosmetics products.
We got the scoop early on this sale process, but Manzanita had a flirtation with it back in 2018 as well. Remember, Goldman Sachs was the lucky firm back then to handle a strategic review, but in the end, nada.
We've reached out to Manzanita for comment, and Raymond James has kept mum. Stay tuned for updates!
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Fun fact: Space NK paused e-commerce orders to the U.S. market due to some recent U.S. tariff changes. Let's see how this beauty titan shimmies out of that pickle!
- Amidst the ongoing economic fluctuations in the UK, potential bidders for Space NK, the high-end beauty chain, are reportedly receiving intriguing teasers about the upcoming auction that Manzanita Capital, its current owner, announced in 2024.
- Despite the financial concerns in the country, the potential buyer might find comfort in the fact that Space NK's financial standing seems stable, as revealed by a potential bidder who spoke with the media.
- Aside from Space NK, Manzanita Capital also holds ownership of Diptyque, a French perfume house, and Susanne Kaufmann, an Austrian luxury skincare brand, in addition to Space NK, which was founded in 1993 by Nicky Kinnaird and boasts over 100 physical stores.
