Castore founders to weigh up sale options after approaches
Castore, the sportswear manufacturer founded in 2016 by the Liverpudlian brothers Phil and Tom Beahon – has appointed investment bank JPMorgan after approaches from potential buyers.
Sky News has reported that Castore’s board is looking at “strategic options for the business” as a result.
Bidders from China have expressed interest in the challenger brand that TheBusinessDesk.com reported in May 2026 had made a loss of over £40m in the extended 18 month period to the 3rd of August 2025.
According to the annual report and accounts of J Carter Sporting Club Limited the business made a loss for the period of £40.3m (2024: £25.8m loss).
Founded in Liverpool in 2016 by brothers, Tom and Phil Beahon, Castore makes sports apparel for football, rugby and cricket clubs and operates in tennis and Formula One.
Partners include McLaren F1; Oracle Red Bull Racing; England Cricket Board, Everton Football Club, Glasgow Rangers, Bayer Leverkusen, Feyenoord, Sevilla FC, Athletic Club (Bilbao), Saracens Rugby, Harlequins, Bath Rugby, Scarlets, and Republic of Ireland Football (FAI).
The business has been bulkingup with acquisitions, as well as securing kit deals.
In August 2025, following the new financial year end, Castore acquired heritage fashion brand Belstaff as part of a deal with Sir Jim Ratcliffe’s Ineos group, valuing Belstaff at £102 million, but issuing shares in Castore raising £15m before costs.
On 22 December 2025, the company renegotiated a new rolling credit facility with HSBC, BNP Paribas and Lloyds to drive new retail openings across the UK. Funding will also support continued international expansion into key Middle Eastern and Asian markets.
The company hasn’t ruled out further acquisitions, and said they will “selectively advance our acquisition strategy, looking to invest in premium, high quality durables brands who will benefit from being part of our Group infrastructure and whose earnings we can compound over the long term.”
A deal in 2024 to buy supplier Infinity a supplier of branded merchandise, clothing and uniforms based in Leeds, was for £2.2m, the accounts revealed. The deal was Castore’s first acquisition following a £145 million investment in November 2023 raised through The Raine Group, Felix Capital and Hanaco Ventures.
In 2024 the business agreed an exclusive partnership with GL Dameck, granting Castore the Umbro Professional Team Sports sub-license, which will see them market and supply the Umbro brand across Europe.
Castore employed 776 people worldwide, 480 in sales positions.
The change to an 18 month period was to “align reporting with the annual sporting season”.
In the commentary to the last annual report chief executive Tom Beahon said: “The challenging macro environment combined with our long term view of value creation and therefore desire to continue investing in value accretive opportunities has resulted in a short term impact in profitability.
“We are comfortable with this based on our confidence in the core business model, long term industry growth drivers and the Group’s long term profit potential.
“We will continue to invest in the business as long as we see long term value opportunities and believe this mindset remains a core competitive advantage to our business and shareholders.”
In an earlier new year message the brothers said 2026 marks a special year for Castore, with the 10-year anniversary taking place this August.
“With more than 90% of startups failing within their first decade, it feels like an important moment to reflect on how far we’ve come — and to recognise how fortunate we are to have customers who believe in what we do, enabling us to do something we love, every single day.
“Of course, not all startups are created equal. Castore began at the humblest end of the spectrum: a loan from our parents’ remortgaged home, close to zero industry knowledge, and total determination to build something we could be truly proud of.”
It continued: “We hope our journey with Castore — the highs, the setbacks, and everything in between — can inspire others to pursue their ambitions with belief and intent. As we enter our tenth year building the brand we love, we couldn’t be more excited for what the next decade holds, and we couldn’t be more grateful for your continued support.
“Ten Years In. Better Never Stops.”
