E.L.F. Beauty is set to acquire Hailey Bieber’s skincare and makeup company Rhode in a deal valued at approximately one billion dollars. Launched less than three years ago by the model and social media star, Rhode has quickly gained recognition in the beauty industry. The acquisition includes a combination of cash, stock, and future earnouts based on growth. This deal marks one of the largest celebrity beauty mergers, highlighting Rhode's rapid success and E.L.F.'s expansion ambitions.