Issa brothers onside at Castore

Issa brothers onside at Castore

Team Castore - July 14, 2021

The petrol station tycoons who recently bought Asda have become the largest outside investors in Castore, the fast-growing British sportswear brand that has a kit deal with Rangers, the new Scottish Premiership champions.

Mohsin and Zuber Issa, 50 and 49, are understood to have invested in the brand run by the Beahon brothers in March last year through their Jersey-based Monte Group.

The Issas have built their EG Group petrol forecourts empire from a derelict site in Bury into one of Britain’s largest private companies after joining forces with TDR Capital, the private equity firm, to embark on debt-fuelled acquisition spree. The brothers bought Leon, the fast-food chain, for £100 million last month.

Tom Beahon, 31, said: “Since the brothers have invested they really pushed us to grow the business and have helped enormously to accelerate our strategy.”
Beahon and his brother Phil, 28, own a controlling majority in the five-year-old business, which is being tipped for a future stock market listing. Castore aims to reach £100 million in sales this year after people snapped up its £165 hoodies during lockdowns.

#BetterNeverStops

Source: The Times