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By
Bloomberg
Published
August 28, 2025
Ineos Group Holdings SA has taken a stake in Andy Murray-backed sportswear brand Castore while selling motorcycle jacket maker Belstaff as part of the deal.
The part-owner of Manchester United Football Club, controlled by billionaire Jim Ratcliffe, said Thursday it will make a “significant strategic investment” in Castore. The financial terms were not disclosed.
Belstaff, founded over 100 years ago, is best known for its high-end leather and waxed jackets, which can sell for more than £1,000 ($1,350). Ineos acquired the label in 2017 from JAB Holding Co., the investment group behind brands such as Krispy Kreme and Pret A Manger, but struggled to return it to profitability.
Ratcliffe built his fortune by creating the chemicals giant Ineos. But his efforts to replicate that model across other industries — from cars to football — have yet to deliver the same level of success.
Castore, launched in 2015 by brothers Tom and Phil Beahon, has grown rapidly with support from Murray, who is a shareholder, and through kit sponsorships with Premier League side Everton and the England cricket team.
A £145 million cash injection in 2023, led by US investment bank Raine Group, valued Castore at nearly £1 billion as it set its sights on competing with industry leaders such as Nike Inc.