Rangers retail partners Castore are set to see part of their shareholding taken over by a pair of billionaire brothers who own supermarket giant ASDA.
Mohsin and Zuber Issa are understood to have first invested in Castore in March and have become the largest outside investors in the brand [Business Live].
The mega-rich siblings are behind petrol station giant EG Group which currently owns and operates close to 400 petrol stations in the United Kingdom.
This investment comes at a very interesting time for Castore who have signed a range of retail partnerships with some of the biggest names in sport.
In an attempt to shake up a stagnant sports retail market the club have signed a long-term contract with Rangers whilst McLaren, Sir Andy Murray and Owen Farrell have signed partnerships amongst many others.
The group’s sharp upturn in success this year has seen Castore announce they are relocating their headquarters from Liverpool to Manchester in a move which will create 300 jobs.
The business has signed a 13-year lease at a property on Manchester’s One Central Street which will see the business occupy the available workspace of 22,100 square feet across five floors.
Business Live also claims that the sports company’s revenue is set to top £100m this year and revealed that the move would create numerous jobs in Manchester.
Rangers signed a retail with Castore in the summer with reports suggesting it is worth an initial £25m to the Ibrox club [Scotsman].
The Rangers retail partners continue to expand at Ibrox and the club opened yet another official store with Castore only last month.