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Image: Mark Stedman/RollingNews.ie
Image: Mark Stedman/RollingNews.ie
THE ICONIC DUBLIN department store Arnotts has been bought by an international retail group.
The Selfridges Group, who also have Brown Thomas as part of their portfolio in Ireland, have taken ownership of the store.
Earlier this year the Arnotts Group, which is in charge of Arnotts as well as Boyers Department Store, was acquired by Noel Smyth’s Fitzwilliam Finance Partners.
As part of this new deal, Arnotts has been purchased from Irish developer Noel Smyth’s Fitzwilliam Finance Partners.
In August the Competition and Consumer Protection Commission approved the purchase of the department store by Fitzwilliam Finance Partners.
In a statement this evening Selfridges Group has stated that it is committed in investing in Arnotts as “the premium department store in Ireland”.
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Founded in 1843, Arnotts is one of Ireland’s oldest departments stores and is located on Dublin’s Henry Street.
Speaking about the purchase, Selfridges managing director Paul Kelly, said:
We have an excellent track record leading retailing in Ireland. Arnotts will benefit from our global retail experience and continual investment.
The Selfridge group have connections to Ireland, its founder Galen Weston is married to Hilary Weston, who was born and raised in Dublin and is director of Selfridges, the London department store which is a major part of the group.
Read: Another landmark store gone: Boyers to shut down at start of 2016
Also: Sale of half of Arnotts gets the go-ahead
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