e.l.f. Beauty Announces Definitive Agreement to Acquire rhode in $1 Billion Deal

e.l.f. Beauty will acquire Hailey Bieber’s skincare brand rhode for up to $1 billion in a cash and stock deal aimed at expanding its footprint in prestige beauty, according to Benzinga. The acquisition includes $600 million in cash, $200 million in stock, and an additional $200 million earnout based on performance over three years.  Bieber will remain Founder of rhode while taking on expanded roles as Chief Creative Officer, Head of Innovation, and Strategic Advisor to the combined companies. The move aligns with e.l.f.’s strategy of scaling disruptive brands and entering new retail channels like Sephora. The deal is expected to close in the second quarter of fiscal 2026, pending regulatory approval.