British shoe brand Grenson sold to Castore

Northamptonshire-based British shoe brand Grenson has been sold to premium sportswear firm Castore.

Castore has taken a 75% stake in the 160-year-old handmade boot and shoe firm, which was founded by William Green in 1866.

The announcement follows Castore's acquisition of heritage fashion brand Belstaff last year, in a deal that it is now revealed was valued at approximately £102 million.

Grenson's office address has now been changed from its original home in Rushden, Northamptonshire, where it has produced shoes since 2013, to Central Street in Manchester.

Grenson had first moved to the Rushden factory in 1895.

Between 1914 and 2018, the shoe company then produced thousands of boots and shoes for the soldiers of The Great War.

In 2011, Tim Little bought out the last family member to work in the business, Heyden Green, and opening a second store and its first e-commerce website.

The same year stores such as Harrods, Selfridges and Liberty started stocking Grenson shoes, and the brand also launched its Women's collection.

Little stood down as a director of the business on 16 June, along with his wife Julie Little and Guy Hutchings.

In May, Castore secured £90 million to fund its UK expansion, with plans to also grow Middle Eastern and Asian markets.

Tom Beahon, co-founder of Castore, commented that the funding would allow the brand to accelerate its retail rollout, while also growing the brand in the UK as well as overseas.

It is now targeting to turn over more than £300 million in sales over the next financial year.