British premium sportswear brand Castore has acquired 100% of heritage fashion label Belstaff in a deal aimed at accelerating international expansion.
The transaction, completed on a debt-free, cash-free basis, will also see Belstaff’s parent company INEOS make a significant strategic investment in Castore at holding company level. Financial terms of the agreement were not disclosed.
Castore said the acquisition will enhance its premium portfolio by combining Belstaff’s design heritage with Castore’s direct-to-consumer expertise, online retail presence, supply chain capabilities, and global sports partnerships.
Ashley Reed, Chairman of Belstaff, described the deal as a partnership between two British brands united by purpose-led design and entrepreneurial spirit. He highlighted Castore’s disruption of the sportswear market and its strong growth, adding that joining forces presented a unique opportunity to accelerate Belstaff’s transformation through shared resources and knowledge.
Tom Beahon, Co-Founder and CEO of Castore, said Belstaff was an iconic brand with unparalleled heritage, noting his long-standing admiration for the label. He credited INEOS and Belstaff’s management team for returning the company to profitability after a difficult retail period and described taking Belstaff into its next growth phase as both a privilege and a personal milestone. Beahon also welcomed INEOS’s investment in Castore, calling it a clear sign of confidence in the business and its global growth ambitions.
The acquisition marks a major milestone for Castore, which has expanded rapidly in recent years through high-profile sports partnerships and a growing retail footprint, positioning itself as a leading player in the premium sportswear market.
