Latham & Watkins Advises e.l.f. Beauty in Acquisition of rhode

e.l.f. Beauty (NYSE: ELF) has signed a definitive agreement to acquire rhode, a fast-growing, multi-category lifestyle beauty brand founded by Hailey Bieber known for its collection of high-performance, skin-focused products. This powerhouse alliance between e.l.f. Beauty and rhode is built on both brands’ shared focus on disruption and product innovation, setting the stage for transformative global expansion. The US$1 billion deal is comprised of US$800 million of consideration payable at closing in a combination of cash and stock, subject to customary adjustments, and an additional potential earnout consideration of US$200 million based on the future growth of the brand over a three-year timeframe.

Latham & Watkins LLP advises e.l.f. Beauty in the transaction with a corporate deal team led by Bay Area partners Mark Bekheit and Tad Freese, with associates Lauren Lefcoe, Tiana Baghdikian, and Ashley Campfield. Advice was also provided on securities matters by Bay Area partners Kathleen Wells and Richard Kim, with associate Raul Gonzalez-Casarrubias; on executive compensation, employment, and benefits matters by Bay Area partner James Metz, with associate Jennifer Lin; on tax matters by Bay Area partner Grace Lee, with associate Gregory Conyers; on intellectual property and data privacy matters by Bay Area partner Michelle Gross, with associates Amy Tosi, Gabrielle Forte, Karen Lee, Kiara Vaughn, and Lorenzo Meusburger; on antitrust matters by Bay Area partner Kelly Fayne, with associate Hanna Nunez Tse; on insurance matters by Los Angeles partner Harrison White, with associate Enrique Covarrubias; on anticorruption matters by Bay Area partner Scott Joiner, with associates Christopher D’Agostino and Heather Artinian; on export control matters by Washington, D.C. counsel Ruchi Gill, with associate Dillon Curtis; and on entertainment matters by Los Angeles partner Jonathan West, with associates Jamie Levine and Sam Lehman.