Space NK owner Manzanita Capital is considering putting the premium beauty retailer up for sale with a price tag of more than £300m.
The private investment firm is in talks with bankers to oversee a partial or complete sale of the company after 22 years, Sky News reported.
It is unclear which firm would recieve the mandate, but retail industry sources said a decision will be made in the near future.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
One source estimates that Space NK could be worth between £300m and £400m based on its recent financial performance.
According to filings at Companies House, the beauty retailer’s EBITDA nearly tripled to £6m in the year to 25 March 2023.
Manzanita, which also owns French perfumer Diptyque, is understood to be undecided on whether to sell a minority or controlling interest in the retailer.
It previously explored a sale of Space NK in 2018 when it hired Goldman Sachs to conduct a strategic review. It opted not to proceed with a deal.
Click here to sign up to Retail Gazette‘s free daily email newsletter
