E.l.f. acquires Hailey Bieber’s Rhode beauty brand in $1 billion deal

Budget beauty giant e.l.f. has finalized a $1 billion deal to acquire Rhode, social media influencer Hailey Bieber’s skincare brand. Rhode generated $212 million in net sales in the past 12 months ending in March 31. E.l.f CEO Tarang Amin told Fortune he sees the brand as having “real staying…