Selfridges may takeover Brown Thomas and Arnotts
DUBLIN: Brown Thomas and Arnotts, two Irish department stores, are reported to be included in a prospective £4 billion acquisition approach for parent company Selfridges.
Selfridges, owned by the Weston family, has 25 stores across five brands in the UK, Canada, Ireland and the Netherlands. There is also the iconic Selfridges store on Oxford Street in London.
However, it is unclear whether the deal will include the entire group or only the UK and Irish stores. Credit Suisse has been appointed as an advisor.
Galen Galen and Hilary Weston purchased Brown Thomas in 1971. Arnott joined the Selfridges Group in 2015.
Galen Weston died in April of this year at the age of 80. His daughter Alannah is the current chairman of Selfridges Group.
Brown Thomas Arnotts Ltd is said to have made a profit of around €5 million as of February last year.
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