Overview

• INEOS will make a significant strategic investment in Castore, and Castore will acquire 100% of INEOS-owned Belstaff on a debt-free, cash-free basis.
• The combination pairs a fast-growing sportswear label with a century-old heritage brand to broaden product reach and accelerate Belstaff’s turnaround.
• Belstaff’s latest filed accounts show an £18 million loss, underscoring the operational challenge Castore aims to address.
• Castore was valued at about £1 billion in 2024, operates 68 stores including Canary Wharf, the O2 and Bluewater, and counts England Rugby and England Cricket among its partners.
• Executives from both companies framed the deal as a union of two British brands, with Castore planning to leverage its direct-to-consumer network and team partnerships for international expansion.