In September this year, Luxe.CO reported that British premium sportswear brand Castore was exploring several strategic options, including a potential sale of the entire company.
The latest developments indicate that Castore is now in talks with potential buyers. Co-founder Tom Beahon revealed that the company had received unsolicited expressions of interest from Chinese sportswear giants Anta and Li-Ning.
In an interview with the British newspaper Financial Times, Tom Beahon noted that Castore was also in discussions with several major US footwear brands.
Speaking about the negotiations with potential investors, Tom Beahon said, “I don’t want to speak to hundreds of firms. I only want to engage with a handful of partners who can genuinely add value to how we build our business or help us enter new markets.”
Tom Beahon explained that the decision to formally launch the search for new investors was largely driven by Castore’s financial backers, including venture capital firms Hanaco Ventures and Felix Capital, as well as US investment bank Raine Group, which holds a stake of approximately 11%.
The potential sale would also provide an opportunity for Castore’s individual investors from various backgrounds to cash out, including:
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Sir Jim Ratcliffe, founder of chemicals group Ineos and co-owner of Manchester United. Last year, Castore acquired heritage clothing brand Belstaff, best known for its motorcycle jackets, from Ineos. As part of the transaction, Ratcliffe received an approximately 11% stake in Castore.
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Former tennis star Sir Andy Murray, who acquired a stake in the company in 2019 through an investment tied to a sponsorship deal.
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Mohsin Issa and Zuber Issa, the brothers behind the EG Group petrol station empire.
Tom Beahon also made it clear that he and his younger brother, Phil Beahon, intend to remain with the company. “Phil and I have no intention of leaving. We don’t want to spend the rest of our lives sitting on a beach or playing golf. I’m 36 and he’s 33. What else would we do with ourselves?”
Beahon had previously championed the idea of listing Castore in London, but those plans have now been shelved. He pointed to the difficult experiences of other founders in London’s capital markets, including THG’s Matt Moulding and Deliveroo’s Will Shu.
Castore was founded in 2016 in Merseyside, England, by former professional athletes Tom and Phil Beahon, with a focus on high-performance sportswear. Over the past decade, the brand has enjoyed rapid growth, establishing itself as an emerging force in the industry. It has since developed into a significant player in the global sportswear market, expanding its portfolio through acquisitions including Belstaff and heritage shoemaker Grenson.
According to an earlier report by Luxe.CO, Castore’s revenue surged 75.8% to £334.6 million in the financial year ended August 2025. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 150.4% to £30.8 million, although the company recorded a pre-tax loss of £40.8 million.
Despite its business growth and success in securing numerous team kit partnerships, Castore continues to face significant challenges, with some consumers criticising the quality of certain products. Tom Beahon argued that quality issues were “something every company encounters”. He also attributed the loss of certain football kit contracts to Nike and Adidas to the fact that “the industry giants had noticed a challenger entering their territory”. He added that “running a sportswear business means battling through adversity.”
Tom Beahon told the Financial Times that Castore expects to achieve double-digit percentage revenue growth this year. He is also continuing to seek further acquisition opportunities to reduce the extent to which the business is “dictated by results on the pitch”. He explained that owning Belstaff opens up new ways of working with sports teams. Everton manager David Moyes now wears Belstaff jackets on the touchline, while the England rugby team’s travel kit for next month’s autumn internationals will include Belstaff down jackets.
| Sources: Financial Times, Bloomberg, previous Luxeplace.com reports
| Image Credit: Official brand social media accounts
| Editor: Luxeplace
