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Castore increases debt facility to £75m to aid further strategic growth

Tom Bottomley
09 January 2023

Premium British sportswear brand Castore has increased the size of its debt facility from £50m to £75m “to give additional levels of liquidity” and further support the group’s strategic growth ambitions.

The increase has been participated by all three of Castore’s existing banks; HSBC, BNP Paribas and Silicon Valley Bank, and the newly increased revolving credit facility (RCF) will lengthen the maturity of Castore’s committed debt facilities, enhancing its financial flexibility.

Castore Co-Founder, Tom Beahon, said: “Castore’s vision is to become the number one premium sportswear brand in the world, and this increased debt facility is a strong endorsement of our growth strategy towards becoming this.”

The increase has been put in place following continued strong trading for the business and strong forecast growth in 2023.

Black Friday 2022 was the most successful in the company's history, breaking all previous sales records, and 2023 will see Castore partner with a number of newly signed, major sports teams across Europe.

Castore is already the official technical kit partner of numerous top tier teams and athletes including Rangers FC, Newcastle United, McLaren Racing, England Cricket, US Open Champion Matt Fitzpatrick and Sir Andy Murray, who is also an investor in Castore who has his own AMC branded products developed and made by them.

Last week the brand announced a new partnership with Surrey Country Cricket Club, becoming the official teamwear supplier, while in December 2022 it launched a capsule collaboration collection with the 007 franchise in the 60th anniversary year since the first James Bond film, Dr. No.

In November 2022, Castore also announced a new multi-year partnership with professional cycling team INEOS Grenadiers, commencing this year, as the brand continues to firmly establish itself in the top tier of sportswear.

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