M&A· 28 May 2025
● M&Ae.l.f. Beauty acquires Hailey Bieber's Rhode for up to $1 billion
$800M cash and stock plus $200M performance earnouts — the largest acquisition in e.l.f.'s history. Rhode generated $212M in net sales from just 10 products in its fiscal year ending March 2025. Bieber remains as Chief Creative Officer and Head of Innovation.
Source
Industry press
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Sources
- 01E.l.f. Beauty Acquires Hailey Bieber's Rhode Skin for $1 BillionBoF
- 02Rhode: Hailey Bieber's makeup brand sold to e.l.f. in $1bn dealBBC
- 03Rhode Beauty Acquired by E.L.F for $1 BillionELLE Australia
- 04e.l.f. Beauty Announces Definitive Agreement to Acquire rhode in $1B deal