Castore increases debt facility by 25 million pounds

British sportswear brand Castore has announced that it has increased the size of its debt facility by 25 million pounds.

The move takes its financial assistance from 50 million to 75 million pounds, with participation from all three of Castore’s existing lenders, HSBC, BNP Paribas and Simon Valley Bank.

In a release, the company said the increased revolving credit facility will give it additional levels of liquidity to further support the group’s strategic growth ambitions.

Additionally, it noted that it would further lengthen the maturity of its committed debt facilities, subsequently enhancing financial flexibility.

Speaking on the news, Castore’s 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 brand reported the “most successful” Black Friday in the company’s history in 2022, breaking all of its sales records.

It further confirmed plans for 2023, revolving around partnerships with a number of newly signed, major sports teams across Europe.

Castore is already the official technical kit partner for a number of teams, including Newcastle United, McLaren Racing, Glasgow Rangers and tennis star Andy Murray.