THE SUMMARYAI-generated
Key Concepts:
- Acquisition of Rhode by E.L.F. Beauty
- Deal Structure: Cash, Stock, and Potential Payout
- Haley Bieber's Role as Chief Creative Officer
- Brand Growth and Future Sales
Acquisition Details
Haley Bieber, at 28 years old, is selling her makeup brand, Rhode, to E.L.F. Beauty in a deal valued at up to $1 billion. Rhode was established three years prior to this acquisition.
Financial Breakdown
E.L.F. Beauty is set to pay $800 million in cash and stock for Rhode. An additional $200 million payout is contingent upon the brand's future sales and growth performance.
Haley Bieber's Continued Involvement
Haley Bieber will remain with the company as Chief Creative Officer. She has described this acquisition as "the next chapter" for the brand.
Deal Closure
The transaction is anticipated to be finalized later in the year.
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