Space NK owner Manzanita Capital is in talks to appoint bankers to oversee a partial or complete sale of the premium high-street beauty retailer, Sky News reported.
Manzanita Capital, a private investment firm which has owned Space NK since 2002, has approached investment banks as it prepares to put the beauty retailer up for sale at a valuation of more than £300m.
It remains unclear who would handle the sale, but industry sources told Sky News that bankers are expected to be appointed in the near future.
Space NK could be valued between £300m and £400m, based on its latest financial performance. However, Manzanita Capital is undecided about whether to sell a partial or controlling interest in the beauty retailer at this stage.
Private equity Manzanita also owns French perfume house Diptyque and Austrian luxury skincare brand Susanne Kaufman. It had previously explored a sale of Space NK in 2018 when it appointed Goldman Sachs to handle a strategic review of the business but opted not to proceed with the sale.
Both Manzanita Capital and Space NK declined to comment.
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