Fitzwilliam given go ahead to purchase Arnott’s stake

arnotts

Fitzwilliam Finance Partners have stated that the Competition and Consumer Protection Commission have approve the outright purchase of the Arnott’s group. In May of this year, Fitzwilliam said they had reached agreement to acquire 50% in Arnotts, which is owned by rival bidder Apoll, a US investor.

Noel Smyth & Partners, who are owners of The Fitzwilliam Finance Partners said that following approval from the Competition Authority, Fitzwilliam will complete the formalities of acquiring the Apollo interest over the forthcoming weeks.

“It is our core objective to maintain the iconic brand of Arnotts which is synonymous with retailing in Dublin city centre and to build on this landmark brand,” he said.

Source: http://www.irishtimes.com/business/retail-and-services/fitzwilliam-gets-approval-to-buy-arnotts-1.2324846