England cricket kit supplier Castore is exploring a potential sale after attracting takeover interest from a number of sportswear companies, opening the door to a deal three years after the business was valued at £950m (approx. US$1.28bn). According to a report by Sky News, the Manchester-based company has appointed JPMorgan to handle interest from prospective buyers.
No formal sale process has been launched, with Castore instead examining its strategic options following unsolicited approaches. Potential outcomes could include the sale of either a majority or minority stake, a partnership with another company, or ultimately no transaction.
The identities of the interested parties have not been disclosed, although potential suitors are understood to include sportswear businesses from China and other international markets.
Castore founders expected to remain in charge
Brothers Phil and Tom Beahon founded Castore in 2016 after their respective attempts to build professional careers in cricket and football ended early. The pair retain a substantial ownership interest in the company and would be expected to continue running the business following any transaction.
Castore has grown into a major supplier across professional sport, with England’s cricket and rugby union teams among its headline partnerships. Its portfolio also includes Premier League club Everton and Formula One’s Oracle Red Bull Racing.
The company reached a valuation of approximately £950m (approx. US$1.28bn) when it raised outside equity in 2023. While the value that might be attached to Castore in any new transaction has yet to be determined, it could exceed that previous valuation.
Revenue growth underpins expansion plans
Castore remains loss-making but generated £335m (approx. US$452.25m) in annual revenue last year as it continued to expand.
In May, the company secured another £90m (approx. US$121.5m) in debt financing from lenders including BNP Paribas, HSBC and Lloyds Banking Group. The funding was intended to support further growth as Castore builds its presence across different sports and international markets.
The company has pursued a digital-first operating model while using its professional sports partnerships to support broader international development of the Castore brand.
Castore Co-founder Tom Beahon said in a statement in May 2026 after securing the financing: “We are highly confident in Castore’s ability to continue to win in the professional sports market, which provides an exceptional engine to drive our mainline brand growth internationally.”
Its longer-term strategy remains founder-led, with investment in innovation, brand development and technology forming part of the company’s plans to improve efficiency and support continued expansion.
Castore is now targeting £1bn (approx. US$1.35bn) in revenue, a goal Beahon disclosed to The Times last month.
High-profile investors back Castore
Castore’s shareholder base includes a number of prominent names from business, finance and sport. Former professional tennis player Andy Murray became an investor in 2019, years before retiring from the sport in 2024 after a career that included three Grand Slam titles and two Olympic singles gold medals.
The Issa brothers, who founded EG Group and previously jointly owned a supermarket chain, are also investors. Castore’s financial backers include Hanaco Ventures, Felix Capital and merchant bank The Raine Group, which led its 2023 fundraising.
Sir Jim Ratcliffe’s Ineos Group subsequently joined Castore’s investor base after the sportswear company agreed to acquire British heritage brand Belstaff last year. The founders of Pure Gym and New Look are also shareholders.
With a retail network spanning the UK and overseas markets, Castore’s consideration of strategic options comes a decade after its launch and as the company continues pursuing further growth across professional sport and its consumer brand.
