Castore Acquires Belstaff From INEOS as Sportswear Brand Expands Portfolio

British sportswear brand Castore, founded by brothers Tom and Phil Beahon, has completed the acquisition of the heritage outerwear label Belstaff from INEOS. The deal was structured on a debt-free, cash-free basis. As part of this arrangement, INEOS will also make a significant strategic investment in Castore’s holding company, further strengthening the partnership between the two businesses.

Belstaff, established in 1924 in Stoke-on-Trent, is renowned for its waxed jackets and motorcycle-inspired heritage. The brand has gone through several ownership changes over the decades. Under INEOS ownership, Belstaff was returned to profitability after facing challenging times. Its new home under Castore is expected to bring fresh energy to Belstaff’s identity, particularly within the premium fashion sector.

For Castore, this acquisition represents a substantial expansion of its brand portfolio and international reach. Founded in 2015, Castore has established a reputation as one of the fastest-growing challengers to established sportswear giants. The company’s direct-to-consumer approach, along with high-profile partnerships in football, Formula One, cricket and rugby, has accelerated its growth and expanded its retail footprint worldwide.

Castore’s leadership emphasised that Belstaff’s rich heritage complements its own design philosophy and entrepreneurial spirit. They view the deal as an opportunity to guide Belstaff into its next growth phase while highlighting Castore’s global ambitions as it continues to scale. Belstaff’s leadership echoed these sentiments, pointing out a shared commitment to purposeful design and innovation.

Strategically, this acquisition allows Castore to combine Belstaff’s lifestyle credentials with its own technical performance expertise. By leveraging its established digital retail infrastructure, global supply chain and network of sporting partnerships, Castore aims to position Belstaff more effectively in both existing and new markets.

From INEOS’s perspective, this move reflects a shift in focus within its broader consumer and sporting investments. Having already adjusted its portfolio in other areas, the sale of Belstaff while retaining a stake in Castore signals a more targeted approach, supporting a promising sportswear brand while streamlining other parts of its business.