Sportswear brand Castore, founded in Liverpool, is said to be exploring a sale after receiving unsolicited approaches from several rivals in the sector, according to information reported by Sky News. The group is reportedly working with bankers at JPMorgan to assess these approaches.
Industry sources report that Castore's board is said to have decided to review strategic options for the company following a wave of interest. A formal sale process has not, however, been launched yet. According to one sportswear industry figure, suitors are said to include Chinese players as well as others from around the world.
Founded by brothers Tom and Phil Beahon in 2016, Castore has positioned itself in performance sportswear. The brand celebrated its tenth anniversary at the end of August. Its portfolio of partnerships includes Rangers, Bayer 04 Leverkusen, the McLaren Formula 1 team, Oracle Red Bull Racing, Bath Rugby and the Red Roses, as well as athletes such as Sir Andy Murray and Matt Fitzpatrick.
Marking the anniversary, Tom Beahon had said: « Dès le premier jour, Phil et moi avons cru qu'il y avait une opportunité de créer une marque de sportswear premium plaçant la performance au premier plan et refusant tout compromis sur la qualité. Cette conviction est devenue Better Never Stops, et elle continue de guider chacune de nos décisions aujourd'hui. » He also paid tribute to the contribution of the team, partners and athletes associated with the brand.
Castore has not commented on this information at this stage.
