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The acquisition of Rhode marked the biggest purchase for e.l.f. Beauty, prior to its $355 million acquisition of skincare brand Naturium in 2023. Bieber will stay at Rhode as the chief creative officer and head of innovation.
As reported by CNN, the agreement includes $800 million in cash and stock, with an additional potential $200 million tied to Rhode's growth over the following three years. The deal is projected to be completed by the end of 2025.
e.l.f.'s financial statement, which the company submitted right after the deal was revealed, claims that Rhode “possesses a strong engagement model” with customers.
“One aspect we genuinely appreciate about Rhode is the limited range of products. There are only 10 items - skincare, makeup, and accessories,” said CEO Tarang Amin in the same paper.
source: cnn.com
As reported by CNN, the agreement includes $800 million in cash and stock, with an additional potential $200 million tied to Rhode's growth over the following three years. The deal is projected to be completed by the end of 2025.
e.l.f.'s financial statement, which the company submitted right after the deal was revealed, claims that Rhode “possesses a strong engagement model” with customers.
“One aspect we genuinely appreciate about Rhode is the limited range of products. There are only 10 items - skincare, makeup, and accessories,” said CEO Tarang Amin in the same paper.
source: cnn.com
