Castore, the premium British sportswear brand, has recently made an exciting announcement regarding its plans for expansion in 2023. In order to support its ambitious growth goals, the company has decided to increase its debt facility. Originally set at £50 million, the debt facility has now been raised to an impressive £75 million.

To make this possible, Castore’s existing banks, including HSBC, BNP Paribas, and Silicon Valley Bank, have agreed to participate in this increased revolving credit facility. This financial support will provide Castore with additional liquidity to fuel its strategic growth ambitions and ensure that the company has the necessary resources to achieve its goals.

By extending its debt facilities, Castore will not only enhance its financial flexibility, but also lengthen the maturity of its committed debts. This move is a reflection of the company’s strong performance and forecasted growth for the upcoming year. Castore had a groundbreaking Black Friday in 2022, surpassing all previous sales records and showcasing the brand’s popularity and demand.

Furthermore, Castore has also secured partnerships with major sports teams across Europe, further bolstering its growth prospects. These partnerships demonstrate the trust and recognition that Castore has gained within the industry, solidifying its position as a leading sportswear brand.

Co-founder Tom Beahon expressed his enthusiasm about the increased debt facility, emphasizing that it is a significant endorsement of Castore’s growth strategy. It aligns perfectly with the company’s vision to become the go-to premium sportswear brand on a global scale. Castore’s expansion plans have been focused on the sports industry, particularly within motor racing. The company recently announced a multi-year agreement to supply teamwear to the Repsol Honda Team in the MotoGP World Championship starting from the 2023 season. This partnership adds to Castore’s existing relationships with elite teams such as McLaren Formula 1, McLaren Automotive, and Oracle Red Bull Racing.

With a proven track record of meeting the demands of top-level sports teams in highly competitive environments, Castore is well-positioned to achieve its vision of becoming the number one premium sportswear brand in the world. The increased debt facility will provide the company with the necessary resources to support its expansion plans and solidify its presence in the global sportswear market.

For more information on Castore and its exciting developments, visit their website here. Additionally, for updates on the latest news and partnerships, follow Castore on their Instagram page @castore_sportswear.