Szczesny was unveiled as a Juve player on Wednesday afternoon to bring an end to his 11-year spell in North London, the last two of which have been spent in Italy with Roma.
The Poland international will now rival Buffon for a starting spot in Turin, with the Italian goalkeeping legend due to bring down the curtain on his glittering career at the end of the season.
Wenger expects Szczesny to be a hit at his latest club, but believes that selling him for a reported £13.5m is good business for the Gunners.
"We wish him well," he told the club's official website. "I think he is an Arsenal boy, an Arsenal man but we have so many top-class goalkeepers that we gave him a chance to remain in Italy.
"Juventus bought him tonight at only one year of contract to go. I think that it's very good for his future because he will certainly take over from Buffon and I believe as well that he will always be thankful to Arsenal because Arsenal was a big step in his career.
"If you look at the keepers we have educated, they are all doing well. We had of course Wojciech and now Emilliano Martinez coming out of our ranks. We have Matt Macey behind and all are doing very, very well."
Szczesny, who made a total of 181 appearances for the Gunners after emerging through the academy ranks, had also been on the radar of Inter Milan.