Castore completes acquisition of Belstaff

Castore, the premium sports apparel brand, has acquired Belstaff from Jim Ratcliffe’s INEOS group.

The deal, the financial terms of which are undisclosed, will also see INEOS make a “significant strategic investment” in Castore.

In a statement, the two companies said they will join forces to drive future growth across premium categories by using Castore’s online retail networks, expertise and supply chain.

Founded in 1924, Belstaff is known for premium menswear and heritage motorcycle gear.

Tom Beahon, co-founder and chief executive of Castore, said: “Belstaff is a truly iconic brand with unparalleled heritage, and I have personally been a huge fan for a very long time. INEOS and the management team at Belstaff have done a phenomenal job in steering the company back to profitability following a challenging period for the retail sector. To have the opportunity to take Belstaff through the next stage of its growth journey is a dream come true and a huge privilege.”

Ashley Reed, chairman of Belstaff, said: “Castore is disrupting the sportswear market and has demonstrated phenomenal growth and resilience in recent years. Having witnessed their journey, we saw a unique opportunity to join forces and accelerate Belstaff’s transformation through shared knowledge and resources.”

RELATED ARTICLES