arnottsDepartment store operator Selfridges Group has acquired heritage Dublin retailer Arnotts from Fitzwilliam Finance Partners.

The deal to acquire the iconic Henry Street department store adds to an international portfolio that already comprises Brown Thomas in Ireland, Holt Renfrew in Canada, Selfridges & Co in the UK, and de Bijenkorf in the Netherlands.

Selfridges Group is owned by Canadian entrepreneur and philanthropist Galen Weston, and his Irish wife Hilary Weston. Mr Weston, whose other retail interests include the British furniture retailer Heal’s, said: “Our family has been a significant investor in Irish retailing and the wider economy since we acquired Brown Thomas in 1971.”

Arnotts, established in 1843, is one of Ireland’s premier furniture retailers, with its home offer part of a comprehensive category mix spanning womenswear, menswear, beauty, childrenswear, jewellery and accessories across its 267,000 sqft footprint.

“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,” said Selfridges Group md Paul Kelly, who has been additionally installed as chairman at ARHL, the parent company of Arnotts.

The transaction also sees Donald McDonald named managing director of the Arnotts business, taking over from Ray Hernan, who is stepping down as CEO.

Mr Kelly added: “I want to welcome Donald to the Selfridges Group team and we look forward to working closely with him as we roll out our exciting plans for the business. Ray has provided strong leadership and direction to Arnotts Group throughout a period of major change and challenge for the business and we wish him well with his future plans.”