Ulta Beauty creates new holding company
BOLINGBROOK - Ulta Beauty will create a new holding company on Jan. 29, the beginning of the company's new fiscal year.
Ulta officials said the primary purpose of the reorganization is to create a more efficient corporate structure. Business operations for the company will not change.
Under the restructuring, Ulta Beauty will replace Ulta Salon, Cosmetics & Fragrance as the publicly-traded entity. All outstanding shares of common stock of Ulta Salon, Cosmetics & Fragrance will automatically convert into the same number of shares of common stock of Ulta Beauty with all of the same rights, powers and preferences, and qualifications, limitations and restrictions.
The common stock of the company will continue to trade on the Nasdaq Global Select Market under the symbol "ULTA." There is no change to the directors and executive officers of the company as a result of the creation of the holding company.