Castore explores sale amid buyer interest
Castore, the premium sports apparel brand, is reportedly exploring a sale of the business after a surge in inbound interest in the company.
According to Sky News, the brand has drafted in bankers at JP Morgan after receiving unsolicited approaches from interested buyers.
Subscribe to TRBWhile a formal sale process has not been initiated, industry sources told Sky News that Castore’s board has decided to examine strategic options following the interest.
One source said a deal could take the form of a minority or majority stake, a partnership, or that there could be no transaction at all.
Founded in Liverpool in 2016 by brothers Phil and Tom Beahon, Castore is backed by Sir Andy Murray and is a kit supplier to the England cricket and rugby union teams.
Castore was valued at around £950 million when it raised external equity funding in 2023. Last year, it acquired the Belstaff heritage clothing brand from Jim Ratcliffe’s INEOS group.
