Sky News has reported that UK premium sportswear brand Castore is considering a range of strategic options, including a full sale, after receiving multiple unsolicited acquisition approaches.
The report noted that after receiving acquisition interest from industry peers, Castore has engaged investment bank JP Morgan to assess the acquisition interest of potential bidders. A formal sale process has not yet been launched, but once the founders' intention to sell is confirmed, the transaction process could move quickly.
The identities of the potential acquirers remain unclear, but the report says the list of interested parties includes peers from China and other parts of the world. However, the deal may not materialize, nor does it mean the entire equity of the company will be sold. The discussions may also involve only the sale of a minority stake, or the company may be considering various other strategic options.
In addition, even if a sale is completed, Castore co-founders Tom Beahon and Phil Beahon will continue to run the company.
According to earlier reporting by LuxeCO, for the fiscal year ended August 2025, Castore's sales surged 75.8% to £334.6 million; EBITDA rose 150.4% to £30.8 million.
Castore currently has 17 stores in the UK, 4 in Scotland, 3 in Ireland, and 1 in Rotterdam, the Netherlands.
In May this year, Castore completed a £90 million financing round to expand its domestic retail business in the UK while also developing markets in the Middle East and Asia, which will also help the company achieve its goal of exceeding £300 million in sales in the next fiscal year.
In an earlier interview with The Times, Tom Beahon discussed the possibility of bringing in a strategic partner for Castore. He said a strategic partner could "help the company open up specific regional markets that it would struggle to break into on its own," or "bring in specialized capabilities that the company does not have internally, whether that is experience in a certain product category or a certain technology."
In addition, Tom Beahon ruled out the possibility of an IPO, saying he remains optimistic about private funding channels to support business growth. "Going public is not currently within our consideration. We believe there is still significant room for growth under the private model. Through our discussions, we understand that we can access private capital if needed. As founders, we compare any decision with the next best alternative: would going public bring substantial benefits compared with continuing to raise private funding?"
In 2016, retired professional athletes Tom and Phil Beahon founded Castore in Merseyside, UK, focusing on high-performance sportswear. Over the past decade, the brand has grown rapidly, establishing itself as an industry upstart and now becoming one of the important players in the global sportswear sector. It has also acquired the century-old motorcycle apparel brand Belstaff and the heritage handmade shoemaker Grenson, among others.
Castore's backers include Tom Singh, founder of UK high-street brand New Look; British tennis star Andy Murray; Pure Gym founders Peter Roberts and Brian Scurrah; Arnaud Massenet, one of the early investors in luxury e-commerce site Net-a-porter; and several private equity funds.
Related LuxeCO reading:
- Century-old Grenson, which supplied military boots to the British Army during both World Wars, acquired by emerging premium sportswear brand Castore
- UK premium sportswear brand Castore's revenue jumped 75.8% to £334.6 million last fiscal year
- Century-old British motorcycle apparel brand Belstaff acquired by emerging sportswear brand Castore in a share swap
- Murray-backed sportswear startup Castore receives £145 million major investment, annual sales already exceed £100 million
- Murray-backed premium sportswear brand Castore named the second-fastest-growing private company in the UK
｜Source: Sky News, The Times, theindustry.fashion, LuxeCO historical reports
｜Image: brand official website
｜Editor: LuxeCO
