Belstaff, which was founded in 1924 and has been owned by Ineos since 2017, has been acquired by Castore on a debt-free and cash-free basis in a deal which sees Ineos making a significant investment in Castore’s holding company.
Tom Beahon, founder and CEO of the Castore business, commented: “Belstaff is a truly iconic brand with unparalleled heritage, and I have personally been a great 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 great privilege.
“We are also delighted that Sir Jim Ratcliffe’s Ineos is investing in Castore, which is a demonstration of commitment to our business and global growth ambitions, and we look forward to working together to deliver on this vision.”
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