Castore is reportedly in talks with Chinese sportswear heavyweights Anta and Li-Ning over a potential deal, as investors seek an exit.

The Manchester-based business, founded by brothers Tom and Phil Beahon, is also holding discussions with major US footwear brands as it searches for a strategic partner to support its next phase of growth.

The potential deal could provide an exit for some of Castore’s high-profile backers, which include Sir Andy Murray, Sir Jim Ratcliffe’s Ineos and the billionaire Issa brothers.

However, the founders are understood to be keen to retain their involvement in the business and remain at the helm following any transaction.

Castore, which was valued at approximately £950m during a funding round in 2023, has appointed JPMorgan to advise on its options after attracting interest from international buyers.

The latest discussions follow reports in September that the sportswear brand was exploring a sale after receiving a string of unsolicited takeover approaches.

A deal could take the form of a majority or minority stake sale or a strategic partnership, although no agreement has been reached.

Founded in 2016, Castore has expanded rapidly through partnerships with major sporting teams, including Everton, Rangers, England Cricket and Red Bull Racing.

It has also diversified beyond performance sportswear, acquiring British heritage brand Belstaff in 2025 and taking a controlling 75 per cent stake in footwear brand Grenson earlier this year.

However, the business has faced profitability challenges, reporting a pre-tax loss of around £40.8m on revenue of £334.6m in the 18 months to August 2025.

Despite the losses, Castore has continued to pursue expansion, securing £90m in debt funding in May to support its growth ambitions.

Meanwhile, a London stock market flotation is understood to have been ruled out, with Castore’s founders favouring private investment.

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