UK sportswear brand Castore, in which tennis ace Sir Andy Murray has a stake, has appointed JP Morgan to advise it after receiving several expressions of interest from takeover suitors.
The company has been exploring options including a sale of a minority stake, a trade sale, or a partnership, but has no plans for a flotation of its shares.
The appointment of JP Morgan, the US investment bank, was first reported by Sky News which said those interested in bidding for the company were thought to include businesses in China.
Castore was founded in 2015 in Manchester by brothers Tom and Phil Beahon and was valued at $1.3 billion at its latest fundraising in 2023.
Murray, the former world number one tennis champion, worked alongside Redrice Ventures in 2018 when he invested in Castore as part of his post-tennis business career.
The company created a line of performance clothing called the AMC collection, which stands for Andy Murray Castore.
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