Gardai in Gurranabraher investigating the serious assault on the man, who is in his 30s, made the arrests following the attack.
At approximately 4.45pm today, a businessman returned to his premises at Churchfield Industrial Estate in Cork to park his van when he was confronted by two males. The men threatened him and demanded money before a struggle ensued.
The businessman was "seriously injured" in the incident, a Garda spokesperson said. Gardai did not elaborate on the nature of the victim's injuries but sources say he was beaten with an iron bar.
The two males fled the scene without any money, leaving the injured party at the scene.
Emergency services were called to the scene. Gardai arrived and carried out a search of the area and two males, one aged 19 and the other 25, were arrested.
They were taken to Gurranabraher Garda station where they are being detained under the provisions of section 4 of the Criminal Justice Act 1984.
The injured man was taken to Cork University Hospital (CUH) where his condition is described as "serious" but stable.
Gardai are appealing for witnesses or anyone who may have seen anyone acting suspiciously around the scene at Churchfield Industrial Estate to contact them in Gurranabraher on 021 4946200, the Garda Confidential Line on 1800 666 111 or any Garda station.