Overview

• e.l.f. Beauty agreed to pay $800 million in cash and stock at closing, with a potential $200 million earnout over three years, valuing Rhode at up to $1 billion.
• The agreement was finalized on May 28 and is scheduled to close in e.l.f. Beauty’s second fiscal quarter of 2026 pending regulatory approvals.
• Hailey Bieber will remain Rhode’s chief creative officer and head of innovation and will also serve as a strategic adviser to e.l.f. Beauty.
• Rhode’s direct-to-consumer model will expand into Sephora stores in the US and UK in autumn 2025, marking its first major retail rollout.
• The acquisition bolsters e.l.f. Beauty’s entry into the prestige skincare segment, diversifying its portfolio beyond mass-market products.