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Beauty Industry, Mergers and Acquisitions

Space NK Owner Plans for Auction

Space NK also plans on expanding in the UK and Ireland with four stores set to open in 2024.

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By: Rachel Klemovitch

Assistant Editor

Manzanita Capital, who previously announced selling Space NK, has hired investment bank Raymond James to manage the possible auction of the retailer. 
 
The auction has not been planned for a specific time but has the potential to occur later in 2024.
 
Manzanita Capital has not yet decided on selling a minority or controlling interest in the company.
 
Space NK founder, Nicky Kinnaird, explored selling the retailer in 2018 but decided not to proceed with the deal. 
 
Space NK reported an increase in sales of 23% for the 2023 fiscal year. 
 
This increase allows Space NK to expand in the UK and Ireland in 2024 with at least four new stores.  

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