E.l.f. Beauty to acquire Hailey Bieber skincare brand Rhode in deal: 1 Billion
The acquisition – E.l.f.’s biggest ever, according to FactSet – is comprised of $800 million in cash and stock, plus an additional potential $200 million payout based on Rhode’s performance over the next three years.
E.l.f. Beauty announced on Wednesday plans to acquire Hailey Bieber’s beauty brand Rhode in a deal worth up to $1 billion as the cosmetics company looks to expand further into skincare.
The deal is expected to close in the second quarter of the company’s fiscal 2026 — or later this year.
In a news release, Bieber said she’s excited to partner with E.l.f. to bring her brand to “more faces, places, and spaces.”
“From day one, my vision for rhode has been to make essential skin care and hybrid makeup you can use every day,” said Bieber.
“Just three years into this journey, our partnership with e.l.f. Beauty marks an incredible opportunity to elevate and accelerate our ability to reach more of our community with even more innovative products and widen our distribution globally.”
E.l.f. shares dropped about 4% in extended trading after the company announced the acquisition and released results for its fiscal fourth quarter.
The company topped Wall Street’s quarterly estimates, but did not offer guidance due to the Trump administration’s changing tariff policy. E.l.f. gets a disproportionate amount of its products from China.
