e.l.f. Beauty Inc. has announced its agreement to acquire the beauty brand rhode for a total deal value of $1 billion. The transaction includes $800 million payable at closing, with $600 million in cash and $200 million in newly issued shares of e.l.f. Beauty common stock. An additional potential earnout of $200 million is contingent on rhode's growth over the next three years. The acquisition aims to diversify e.l.f. Beauty's portfolio by integrating rhode, a fast-growing brand known for making prestige beauty accessible. The deal is expected to close in the second quarter of Fiscal 2026, following customary closing conditions and regulatory approvals. e.l.f. Beauty Chairman and CEO Tarang Amin expressed enthusiasm about the partnership, noting rhode's alignment with e.l.f. Beauty's mission to democratize beauty and drive growth.
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