Castore, the Manchester-based sportswear brand, is reportedly exploring a sale after receiving several takeover approaches.
Sky News claims the company – founded in Liverpool in 2016 by brothers Tom and Phil Beahon – has appointed investment banking giant JPMorgan to canvas interest from potential buyers.
According to Sky News, a formal sale process has not yet started, but Castore’s board has decided to examine strategic options following a surge of inbound interest.
The report suggests there has been a flurry of approaches, including from potential suitors in China.
The identities of the interested parties are unclear, although Sky quoted one sportswear industry insider as saying they included peers from China and other parts of the world.
The news comes in the year Castore celebrates its 10th anniversary. The brothers’ parents famously remortgaged their home in the early days to help get the business off the ground.
Warming up
The brothers – who were included in BusinessCloud’s Founder 250 list – haven’t commented publicly on the speculation, but last month Tom took to LinkedIn to describe the first decade as ‘just the warm up’.
He wrote: “This month Castore turns 10 years old. I’m so proud of everything the brand has accomplished but I am even more aware of how far we still have to go.
“That tension has always been important to Castore – we never confuse progress with success, as soon as one mission is accomplished, we look for the next mountain to climb.
“We are still so early in our journey and have achieved only a fraction of our full potential – knowing this is simultaneously humbling and motivating.
“When you start a business using your own life savings, the jeopardy is very real. The mindset forged in this environment is incredibly powerful, you don’t have the luxury of making big mistakes, you must learn every area of the business from the ground up and become an expert in taking strategic risks. There is no such thing as a safety net and you learn to survive on your instincts.
“It’s not enough to merely show up every day, you have to out-work your previous self and continually get better.
“The intensity required to build something from nothing is huge, but passionately creating something you truly believe in with a group of like-minded people is one of life’s great gifts and can achieve things beyond your wildest expectations.
“Castore is a testament to that. When you have this attitude and bet everything on yourself, the real risk is for those who bet against you.”
In 2023, Castore was valued at £950m after securing a £150m investment. The funding round was led by The Raine Group, a leading global TMT merchant bank, alongside Hanaco Ventures and Felix Capital.
In June 2026, Castore acquired premium British footwear brand Grenson Shoes.
The Grenson deal came a year after Castore acquired INEOS-owned heritage fashion house Belstaff.
Castore’s ethos is ‘BETTER NEVER STOPS’.
BusinessCloud has been unable to confirm the report by Sky News