Overview

• The agreement provides $800 million in cash and stock at closing plus a potential $200 million earn-out based on Rhode’s growth over three years
• Rhode generated $212 million in net sales in the fiscal year ending March 2025 from a lineup of just ten products
• Bieber will retain her title as founder and expand her duties as chief creative officer and head of innovation while serving as a strategic advisor to e.l.f. Beauty
• The acquisition is subject to regulatory approvals and is projected to close in e.l.f. Beauty’s second fiscal quarter of 2026
• Rhode’s rollout will begin with Sephora UK by the end of 2025 and extend to US and Canadian Sephora locations in fall 2025