Overview
- Castore will acquire 100% of Belstaff on a debt-free, cash-free basis, with financial terms undisclosed.
- Ineos will make a significant strategic investment in Castore at the holding-company level.
- Companies House filings show Belstaff posted a £18.3 million pre-tax loss for 2023, alongside an operating profit of about £2.3 million for the year.
- Castore plans to scale Belstaff by leveraging its direct-to-consumer platform, supply chain and roster of professional sports partnerships.
- The deal pairs a fast-growing Manchester-based sportswear group backed by investors including Andy Murray with a century-old outerwear label seeking international growth.