Hailey Bieber’s beauty brand rhode sold to budget makeup powerhouse e.l.f. Beauty for $1 billion on Wednesday. It’s e.l.f.’s largest acquisition to date, eclipsing its $355 million purchase of skin care brand Naturium in 2023.

E.L.F. Beauty acquired Mrs. Bieber’s cosmetics brand for $800 million in cash and stock upfront, with another $200 million contingent on future growth.

Beauty has signed a definitive agreement to acquire rhode, a fast-growing, multi-category Los Angeles-based lifestyle beauty brand founded by Hailey Bieber known for its collection of skin-focused products.