e.l.f. Beauty’s Rhode acquisition is complete, but the headline $1 billion was a maximum deal value—not $1 billion paid to Hailey Bieber at closing. The terms included $800 million in closing consideration and up to $200 million in a potential earnout tied to Rhode’s growth over three years.
Did e.l.f. Beauty buy Rhode?
Yes. e.l.f. Beauty announced a definitive agreement to acquire Rhode on May 28, 2025, and later reported that the acquisition closed on August 5, 2025. The deal is therefore completed, not pending. e.l.f.’s announcement called the transaction “transformative”; that was the company’s description, not an independently measured outcome.
Hailey Bieber, Rhode’s founder and chief creative officer, said: “From day one, my vision for rhode has been to make essential skin care and hybrid makeup you can use every day.” e.l.f. chairman and chief executive officer Tarang Amin said: “We are thrilled to welcome rhode to e.l.f. Beauty.”
What does Hailey Bieber’s $1 billion Rhode deal include?
The $1 billion figure was the maximum possible transaction value. The May 2025 announcement set out $800 million payable at closing, subject to customary adjustments, plus up to $200 million in potential earnout consideration based on Rhode’s future growth over a three-year period. The announcement and e.l.f.’s completion filing distinguish the closing payment from the contingent amount.
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#1 Best Overall
- COMPLETE TRAVEL-SIZE ROUTINE IN ONE KIT: Includes four Rhode essentials — Pineapple Refresh Cleanser (1.35 oz), Glazing Milk (2.2 oz), Peptide Glazing Fluid (0.5 oz), and Barrier Restore Cream (1.0 oz) — designed to work together as a complete morning and evening skincare routine, perfect for travel or trying the full Rhode lineup for the first time.
- PINEAPPLE REFRESH CLEANSER — CLEANSE WITHOUT STRIPPING: This balm-to-lather daily cleanser uses pineapple enzyme to gently exfoliate and remove SPF, makeup, dirt, and impurities while leaving skin clean, soft, and hydrated post-rinse. Gentle surfactants preserve the skin's moisture barrier, so skin never feels tight or dry after washing.
- GLAZING MILK & PEPTIDE GLAZING FLUID — HYDRATE AND GLAZE: The Glazing Milk delivers a ceramide trio (NP, AP, EOP) that moisturizes, smooths, and reinforces the skin's natural barrier; follow with the Peptide Glazing Fluid, which uses niacinamide to brighten the look of skin and improve overall texture for that signature dewy, glazed finish.
- BARRIER RESTORE CREAM — SEAL AND SUPPORT: The final step in the routine, this moisturizer is powered by peptides — short-chain amino acids that help visibly reduce the appearance of fine lines while deeply nourishing and supporting a healthy, resilient skin barrier. Apply to face, neck, and décolleté to complete the routine.
- VEGAN AND CRUELTY-FREE, SUITABLE FOR ALL SKIN TYPES: All four products in this set are vegan and cruelty-free and formulated to work across skin types. Each formula multitasks across skincare and makeup routines for versatile, buildable results that go beyond a standard skincare kit.
| Deal component | Amount and form | What it means |
|---|---|---|
| Closing consideration | $800 million, subject to customary adjustments | At completion, e.l.f. described this as $600 million in cash and $200 million in stock. |
| Potential earnout | Up to $200 million | Additional consideration dependent on Rhode’s growth over the three years following the deal. |
| Maximum announced value | Up to $1 billion | The sum of closing consideration and the maximum potential earnout; not all cash paid at closing. |
How much of the $1 billion is cash, stock, or an earnout?
At completion, the stated $800 million closing consideration consisted of $600 million in cash and $200 million in stock. The remaining amount—up to $200 million—was contingent earnout consideration, not a guaranteed closing payment. The final earnout amount is not established by the cited completion filing.
In e.l.f.’s fiscal 2026 results, the company reported a $57.6 million fair-value adjustment associated with Rhode revenue results relative to earnout thresholds. That accounting adjustment is not evidence that the full potential earnout was paid, nor does it by itself state the final amount owed. See e.l.f.’s fiscal 2026 results.
Rank #2
- HYDRATING GLAZING MILK: Lightweight ceramide essence deeply hydrates and primes for skincare or makeup.
- NOURISHING PEPTIDE FORMULA: Enriched with shea butter, peptides, and vitamin E for visibly softer, smoother lips.
- GLOSSY STRAWBERRY FINISH: Peptide Lip Treatment delivers shine and a subtle sweet scent for a plumped, radiant look.
- TINTED JELLY BEAN SHEEN: Peptide Lip Tint adds shimmer and soft pink color for everyday wear or glam moments.
- LIMITED EDITION GLAZED SET: A curated trio of Rhode essentials ideal for travel, gifting, or daily self-care.
How large was Rhode before the acquisition?
e.l.f.’s May 28, 2025 announcement reported Rhode net sales of $212 million for the 12 months ended March 31, 2025. That figure describes the specified 12-month period; it is not a forecast or a statement of later sales. The acquisition announcement is the source for the figure.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Where can you buy Rhode products?
Rhode’s official U.S. shop currently lists skincare and makeup, including Peptide Lip Treatment, Peptide Lip Tint, Pocket Blush, and Glazing Milk. Product names, catalog contents, and displayed prices can change; check Rhode’s official shop for current listings.
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- DAILY CLEANSER: Rhode Pineapple Refresh PGA Daily Cleanser gently cleanses skin for a fresh, clean feel every day.
- KEY INGREDIENT: Formulated with PGA (polyglutamic acid) to help hydrate and support a smooth, supple skin texture.
- REFRESHING FORMULA: Infused with a pineapple-inspired blend that leaves skin feeling refreshed and revitalized after each wash.
- GENTLE ON SKIN: Designed as a daily facial cleansing wash suitable for regular use without stripping the skin's natural moisture.
- STANDARD SIZE: Comes in a standard size, making it easy to incorporate into your everyday skincare routine at home or on the go.
At the time of the acquisition announcement, e.l.f. said Rhode planned its first physical in-store partnership with Sephora throughout North America and the U.K. before the end of 2025. That was an announced plan, not confirmation of current stock in every market or store; check local Sephora listings for availability. Rhode’s official catalog confirms its products exist, but does not establish that they are sold on Amazon or verify the authenticity of any third-party marketplace seller.
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- Desktop makeup organizer:you can use it to store anything like cosmetics or other small sundries, very useful,makeup desk organizer
- Racks for cosmetics:the workmanship of this product is perfect, and you will have a good experience in using it,countertop makeup organizer
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Rank #4
- What it smells like: warm sage, soft wood, earthy green moss, with just a hint of fresh lemon
- Imported Icelandic Moss, Made locally in Rhode Island
- Cruelty Free
- Size: 4.3oz Bar
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
