Castore explores potential sale following takeover interest

British sportswear brand Castore has appointed investment bank JPMorgan to explore strategic options, including a full or partial sale of the company. The move follows a surge in unsolicited takeover approaches and interest from rival sportswear brands.

Co-founder Tom Beahon confirmed the discussions, noting that major Chinese sportswear groups, including Anta and Li-Ning, as well as several large unnamed U.S. footwear brands, have expressed interest. While a formal sale process has not been officially launched, the engagement with JPMorgan may lead to a transaction or simply serve to evaluate options.

The push for a new investor is reportedly driven by Castore’s financial backers, which include Hanaco Ventures, Felix Capital, and the Raine Group. The company’s current investor base also features Sir Jim Ratcliffe, Sir Andy Murray, and the Issa brothers of EG Group. Despite potential ownership changes, co-founders Tom and Phil Beahon are expected to continue leading the Manchester-based brand.