Selfridges Group buys Arnotts department store in Dublin

Selfridges Group has acquired Arnotts department store in Dublin, it was announced today.

Selfridges said it is committed to investing in establishing Arnotts as the premium department store in Ireland by enhancing the shopping experience for its customers, upgrading the store environment and introducing new premium brands across all categories.

Arnotts will "continue to preserve its own unique and much loved identity", the company said.

Selfridges Group is owned by Canadian entrepreneur and philanthropist, Galen Weston and his Irish wife Hilary Weston.

Commenting on the acquisition of Arnotts, Mr Weston said: “Our family has been a significant investor in Irish retailing and the wider economy since we acquired Brown Thomas in 1971”.

Commenting on behalf of Selfridges Group, Paul Kelly, managing director, said: “Selfridges Group is delighted to be taking over the management of Arnotts department store.

“We have an excellent track record leading retailing in Ireland. Arnotts will benefit from our global retail experience and continual investment.

“Our priority will be to build on the legacy of this great Irish brand and we will look to enhance the customer experience while cherishing Arnotts unique heritage, which has been an essential part of Dublin’s retail landscape for over 170 years.”

We were delighted to support Fitzwilliam Finance Partners and Noel Smyth in the acquisition of the Arnotts Group and we look forward to engaging with Noel in relation to his future plans for the adjacent properties, which Fitzwilliam Finance Partners will continue to own.”

Selfridges Group also announced today the appointment of Paul Kelly as Chairman of ARHL (ARHL Retail Holdings Limited), the parent company of Arnotts, and Donald McDonald as managing director of the Arnotts business. McDonald takes over from Ray Hernan, who is stepping down as chief executive of Arnotts Group.

Founded in 1843, Arnotts is one of Ireland’s oldest and largest department stores, occupying a prime location on Henry Street, one of the busiest shopping thoroughfares in Dublin’s city centre.

A multi-category retailer incorporating womenswear, menswear, homeware, beauty, childrenswear, jewellery and accessories, Arnotts also operates a number of cafés and restaurants within its 267,000 sq ft footprint.