Hailey Bieber Sells Rhode to e.l.f. Beauty for $1 Billion | E! News

Hailey Bieber Sells Rhode to e.l.f. Beauty for $1 Billion | E! News

haley Beaver is on the road to going global The 28-year-old has officially sold her road skin company to E.L.F Beauty Cosmetics for $1 billion The cosmetics brand confirmed in a May 28th press release The acquisition is compromised of $800 million in cash and stock provided to road owners including CEO Nick Vleos Bieber and her co-founders Lauren Ratner and Michael D Ratner at the deal’s closing in addition to an additional $200 million of potential earnout based on future growth of the brand over a three-year time frame per the release Following the announcement Haley who will remain chief creative officer and head of innovation at Road as well as work as a strategic adviser for E.L.F reflected on how much she’s achieved with her skincare brand since launching it in 2022 and why teaming up with E.L.F felt like a good fit Haley wrote in a May 28th Instagram post “I always had big dreams for the company and the most important thing to me is to keep bringing Road to more spaces places and faces globally So today I am so incredibly excited and proud to announce that we are partnering with E.L.F Beauty as we step into this next chapter in the world of road.” Describing the makeup brand as a like-minded disruptor with a vision to be a different kind of company that believes in big ideas and innovation in the same way that I do The model went to express how excited and invigorated she is moving into this next chapter She said “Thank you to the amazing road team who have helped me build over the years I couldn’t have done it without all of you.” And to our road community thank you for being the most supportive and for being on this journey This next chapter is going to be even more incredible together and her co-founder Lauren second that sentiment writing in her own May 28th Instagram post announcing the deal The last five years building road has been one of the greatest experiences of my life She continued “To our entire road community thank you for your endless love and support for the brand We see every video comment and message and it means so much to us We can’t wait for you to see what we have coming.” As for E.L.F the beauty company provided insight into the new heights they plan to achieve by partnering with Rogue ELF chairman and CEO Terang Amen said in the release “We are excited by Road’s ability to break beauty barriers fully aligning with E.L.F Beaut’s vision to create a different kind of company Road is a beautiful brand that we believe is ready for rocket ship growth [Music]

Hailey Bieber officially sold her Rhode Skin company to e.l.f. Beauty in a $1 billion deal, saying that the decision was made in hopes of “bringing rhode to more spaces, places, and faces globally.”
Full Story: https://www.eonline.com/news/1418074/hailey-bieber-sells-rhode-for-s1-billion-to-e-l-f-beauty

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