THE WHAT? PCA Companies has announced the acquisition of the US wholesale division of Space NK – its first foray into the world of retail. The global beauty platform did not disclose financial terms of the deal.

THE DETAILS According to a report published by WWD, the unit, which serves some 600 points of distribution across Bloomingdale’s, Nordstrom, Hudson Bay and its own Walmart and Beauty SpaceNK collab, will be renamed in the US but otherwise continue to operate as usual.

THE WHY?  Andy Lightfoot, Space NK CEO, told WWD, “We’ve grown a lot, but we have seen a number of opportunities that we couldn’t fully capitalize on because of the scale of the business in the US. We saw [the US and UK] businesses becoming more and more differentiated, and the benefits we had leveraged earlier were being diminished, so it was a natural division.”