Belstaff, best known for its motorcycling jackets, is to pass into the hands of Ineos subject to regulatory approvals. Stuart C Wilson/Getty ImagesOne is an industrial conglomerate best known for petrochemicals, refining and fracking: the other is a luxury fashion brand famed for its motorcycling heritage, wax jackets and advertising campaigns featuring David Beckham. Yesterday, the two made for one of the more unlikely deals in recent corporate history as Ineos, owned and run by the billionaire Jim Ratcliffe, announced that it was buying Belstaff for an undisclosed sum. The fashion brand was put up for sale by JAB Holding, the consumer goods group backed by Germany’s Reimann family, this year. The deal appears to be linked with Mr Ratcliffe’s ambitious plan to enter the car manufacturing sector by building a “successor” to the Land Rover Defender, which ceased production last year.

Source: The Times October 31, 2017 00:00 UTC