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e.l.f. Acquires Clean Beauty Company W3LL PEOPLE to Expand Brand Portfolio

OAKLAND, Calif.–(BUSINESS WIRE)–e.l.f. Beauty (NYSE: ELF) today announced the acquisition of cruelty-free, clean beauty company W3LL PEOPLE for $27 million in cash. e.l.f. plans to leverage its marketing, customer relationships and operational capabilities to drive the W3LL PEOPLE brand. e.l.f. expects W3LL PEOPLE to contribute approximately $7 million in net sales and $0.01 to its adjusted earnings per share on a fully diluted basis in fiscal 2021.