E.L.F. Beauty acquired Hailey Bieber's beauty brand, Rhode, for $800 million in cash and stock. Rhode, known for its blushes and lip glosses, has experienced rapid growth in just three years, largely due to Bieber's significant social media presence. The deal includes a potential additional $200 million based on future growth. Bieber cited the need for a strategic partnership to fuel innovation and global expansion.

Prepared by Christopher Adams and reviewed by editorial team.