LONDON — Castore, a U.K.-based performance brand for global sports teams, has agreed to acquire a full stake in the century-old British fashion label Belstaff on a debt-free, cash-free basis.

The financial terms of the team were undisclosed.

At the same time, Belstaff ’s parent company Ineos, a U.K.-based manufacturer of petrochemicals, will make a significant strategic investment in Castore at a holding company level.

Ineos is one of Britain’s largest private companies, generating revenue of $21.88 billion annually — and its owner, Jim Ratcliffe, is also known as an avid collector of motorbikes. The firm snapped up Belstaff in 2017 from JAB.

The union between two British brands is aimed at driving future growth across premium categories by capitalizing on Castore’s direct-to-cons

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