The Ineos owned British heritage brand, Belstaff, has been acquired by Castore for an undisclosed fee on a debt-free, cash-free basis.
If you know your Trialmaster from your Roadmaster, have a penchant for waxed cotton wares and have seen films such as ‘I Am Legend’ or ‘The Aviator’, then you probably know a thing or two about the British heritage brand Belstaff. Founded back in 1924 in Stoke-on-Trent, Belstaff is famed for its waxed cotton motorcycle jackets worn by Hollywood icons such as Steve McQueen. Bought by Jim Ratcliffe’s Ineos back in 2017, who also part owns Manchester United amongst various other sports teams, it was announced yesterday that the British sportswear brand Castore had completed the acquisition of Belstaff on a debt-free, cash-free basis.
Castore, which is headquartered in Manchester, launched in 2015 and quickly rose to prominence thanks to financial backing from Andy Murray and sponsorship deals with Premier League clubs such as Newcastle United, Aston Villa & more recently Everton. Financial details at this stage have not been disclosed. So what’s next for Belstaff, a more premium sportswear approach to designs to rival the likes of Stone Island? Keep posted at KULT & don’t forget to subscribe to KULT & follow @kult_recruit to keep up to date with all the latest industry news.
This is a union of two British brands who have come together through shared qualities of purpose-led design and entrepreneurial spirit. 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.
Ashley Reed – Chairman Belstaff
