Castore, the Manchester-based sportswear brand, has retained JPMorgan to explore a sale following a “surge of inbound interest” in the business, Sky News reported.
A formal sale process has not yet been officially initiated, but sources told the news channel that Castore’s board has “decided to examine options.”
The identity of interested parties remains unknown but one source told Sky News that it included businesses from “China and other parts of the world.” One source cautioned that a deal could take the form of a majority or minority sale, a partnership or no transaction taking place at all.
Tom and Phil Beahon, brothers who co-founded the business in 2016, are expected to remain at the helm.
For the 18 months to August 3, 2025, Castore’s revenues surged 30 percent year on year to £334.6 million, while EBITDA more than doubled to £30.8 million. The brand holds sponsorship partnerships with teams and athletes across soccer, rugby, cricket, golf and tennis, including supplying kits for the England’s cricket and rugby union teams, Oracle Red Bull Racing Formula One team and Premier League club Everton.
Castore sells through its website and operates about 25 stores, largely in the UK. It also has wholesale distribution in Europe with upscale department stores, sports chains and online specialists, including Sports Direct, Zalando, Intersport, Sprinter, 11Teamsports, and Voetbalshop.
Backed by tennis legend Andy Murray and the billionaire Issa brothers, Castore was valued at £950 million ($1.2 billion) in November 2023 in a fundraising round led by investment firm Raine. Since then, Castore in August 2025 secured a “significant strategic investment” from Ineos, the conglomerate led by Manchester United minority owner Sir Jim Ratcliffe.
Ineos’ investment came at the same time as Castore acquired 100 percent of the heritage clothing brand Belstaff, its first acquisition. This past June, Castore acquired a 75 percent stake in British heritage footwear brand Grenson.
In May of this year, the company said it had secured £90 million in new debt funding from lenders including BNP Paribas, HSBC and Lloyds Banking Group to help finance its continued growth.
Tom Beahon said at the time, “For Castore, the growth within the global sports market remains highly attractive and whilst competitive dynamics can fluctuate, our agile and digital first model is proven to deliver consistent revenue growth for sports teams across multiple categories and geographies,” Tom Beahon said at the time.
“We are highly confident in Castore’s ability to continue to win in the professional sports market, which provides an exceptional engine to drive our mainline brand growth internationally.
“The combination of a long term founder-led strategy, prioritizng innovation and brand building and commitment to leveraging technology to consistently drive efficiencies positions the group for long term success.”
Image courtesy Castore
