July 10 (Reuters) - U.S. cosmetics retailer Ulta Beauty ( ULTA )

on Thursday announced its venture into the British

market with its purchase of high street chain Space NK.

Ulta Beauty ( ULTA ) did not disclose the financial terms of the

transaction.

Sky News first reported on the deal earlier on Thursday.

While the exact price being paid by Ulta was unclear, the

deal value was likely to be well in excess of 300 million pounds

($408.2 million), the report said.

($1 = 0.7350 pounds)