Billionaire Issa brothers now largest outside investors in Castore

Petrol station tycoons Mohsin and Zuber Issa, who recently acquired Asda, have become the largest external investors of fast-growing British sportswear brand Castore, according to The Times.

The Issa brothers are believed to have invested in Castore, run by brothers, founders and majority share holders Tom and Phil Beahon, in March last year through their Jersey-based Monte Group.

As recently reported, Castore is to relocate its head office from Liverpool to Manchester and create 300 additional jobs.

The brand, who have a football kit deal with new Scottish Premiership champions Rangers and are backed by tennis star Andy Murray, have signed a 13-year lease with landlord Kinrise to become the lead tenant at One Central Street in Manchester city centre. It will occupy all available workspace – circa 22,100 sq ft – within the building, situated across five floors.

All staff in Liverpool will relocate to the new premises while the 300 additional roles are expected to be created in the coming two years.

Castore is on course for sales of £100m this year and sells its products in 50 countries. It also has physical retail stores in Liverpool ONE and King’s Road, London.

Commenting on the Issa brothers’ investment, Tom Beahon, 31, said: “Since the brothers have invested they really pushed us to grow the business and have helped enormously to accelerate our strategy.”