Castore secures £90M credit facility to fuel global expansion
What's the deal? Castore, the Manchester-based sportswear brand, has secured a £90M ($122M) credit facility from HSBC UK, BNP Paribas, and Lloyds. The funding will support new store openings in the UK and expansion into Middle Eastern and Asian markets.
The company is targeting sales of more than £300M over the next financial year. It currently operates 17 stores in the UK, four in Scotland, three in Ireland, and one in the Netherlands.
Co-founder Tom Beahon said the funding "provides us with the flexibility and ability to accelerate our retail rollout, expand into new international markets and continue to grow the brand in the UK and overseas."
Why now? Castore has been on an acquisition spree. In May 2026, it bought heritage fashion brand BelstaffDealroom has a profile for this one. Try Dealroom → for roughly £102M. It also secured a "significant strategic investment" from Ineos, the conglomerate led by Manchester United minority owner Sir Jim Ratcliffe.
Founded in 2015 by brothers Tom and Phil Beahon, Castore has been backed by tennis legend Andy Murray and the billionaire Issa brothers. It holds sponsorship deals with teams and athletes across football, rugby, cricket, and tennis.
What could go wrong? Castore's parent company, J.Carter Sporting Club, reported a pre-tax loss of £40.8M on revenues of £335M for the 18 months to August 2025. That's a significant gap between ambition and profitability.
Tom Beahon acknowledged the "challenging macro environment" but framed the losses as deliberate short-term trade-offs. "We will continue to invest in the business as long as we see long term value opportunities," he said.
The signal: Classified as a "late growth" company on Dealroom, Castore's decision to lean on debt rather than equity at this stage suggests the founders are confident enough in near-term cash flows to avoid further dilution — a notable stance given the £40.8M pre-tax loss. The simultaneous acquisition of Belstaff, a "mature" heritage brand, hints at a portfolio strategy aimed at broadening beyond performance sportswear, though integrating two brands at very different life stages while expanding into new geographies adds considerable execution risk.
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