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e.l.f. Beauty is acquiring Hailey Bieber's Rhode skincare brand for $1 billion, its largest acquisition to date. The deal, comprised of cash and stock with potential earn-out, aims to boost e.l.f.'s presence in the luxury market and expand into Sephora. Bieber will remain as chief creative officer. The acquisition comes as e.l.f. faces headwinds from tariffs on its China-manufactured products, but the Rhode deal is expected to significantly contribute to future growth and market share.

Prepared by Christopher Adams and reviewed by editorial team.