Today, e.l.f. Beauty has announced that it has enterd into a definitive agreement to acquire rhode for $1 billion.
According to a joint statement by the two companies, “The $1 billion deal is comprised of $800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of $200 million based on the future growth of the brand over a three-year timeframe.”
e.l.f. Chairman and CEO Tarang Amin told investors, “rhode further diversifies our portfolio with a fast-growing brand that makes the best of prestige accessible. We are excited by rhode’s ability to break beauty barriers, fully aligning with e.l.f. Beauty’s vision to create a different kind of company. rhode is a beautiful brand that we believe is ready for rocketship growth.”
rhode Founder, Hailey Bieber stated, “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.”
Bieber’s brand has increased its consumer base more than twofold in the last year, achieving total net sales of $212 million for the 12 months ending March 31, 2025.
Moving forward, Bieber said, “As I continue as Founder and step into an expanded role of Chief Creative Officer and Head of Innovation, I look forward to leading the brand into this exciting new chapter of possibilities alongside my Co-Founders Michael D. Ratner and Lauren Ratner, who have helped bring my vision to life from the start.”
By CEO NA Editorial Staff