Bieber, Beauty and rhode
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Hailey Bieber ’s beauty and skin-care brand Rhode has been acquired for $1 billion by Elf Beauty, pending approvals, marking one of the most high-profile beauty deals in recent years. Announced today, the acquisition comes just two months after it was reported in April that the brand hired JPMorgan Chase and Moelis to oversee the sale.
E.l.f. Beauty ( ELF 0.79%) stock has been through the wringer over the past few years, and it's down a whopping 40% over the past year. That's despite robust growth over that time, and a brand that continues to surge and gain market share.