Liverpool-founded sportswear brand Castore is reportedly exploring a sale after receiving takeover approaches from a host of industry rivals.
The decade-old brand is working with bankers at JPMorgan following unsolicited approaches about a deal, according to Sky News.
While a formal sale process has not yet been initiated, industry sources reported that Castore’s board had decided to examine strategic options for the business following a surge of inbound interest.
The identities of Castore’s suitors was unclear, although one sportswear industry insider said they included peers from China and other parts of the world.
One source cautioned that a deal could take the form of a majority or minority sale, a partnership or no transaction taking place at all.
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Founded by brothers Tom and Phil Beahon in 2016, Castore focuses on performance sportswear and the slogan “Better Never Stops”.
It has grown from a start-up into a global sportswear business, securing partnerships across football, rugby, cricket, Formula 1, tennis and golf.
Its current roster of partners includes Rangers, Bayer 04 Leverkusen, the McLaren Formula 1 Team, Oracle Red Bull Racing, Bath Rugby and the Red Roses. It has also worked with athletes including Sir Andy Murray and Matt Fitzpatrick.
Castore said it has used these partnerships to test and improve its products, with a focus on lightweight materials, breathability, stretch and durability.
At the end of August, the brand celebrated its 10th anniversary. Co-founder Tom Beahon said: “Reaching our ten-year anniversary is a milestone we’re incredibly proud of, but for us it’s never been about looking backwards for too long.
“From day one, Phil and I believed there was an opportunity to create a premium sportswear brand that put performance first and refused to compromise on quality. That belief became Better Never Stops, and it continues to drive every decision we make today.
“What we’ve achieved over the past decade simply wouldn’t have been possible without the dedication of our team, the trust of our partners and the athletes who choose to wear our products at every level of sport.”
Castore has yet to comment on a potential sale.
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