StockMarketWire.com - CEPS said its subsidiary company, Signature, had acquired a 90% stake in Milano International for £1.85m.

The vendors, founders and shareholders of Milano, Paul Pendergest and Lesley Pendergest would hold 10% of the issued share capital in Milano International Holdings, or MIHL.

'Milano was established in 1996 and is based in Preston, Lancashire. The company is one of the leading providers in the design and manufacture of athletic and gymnastic leotards and costumes,' the company said.

'The acquisition of Milano fits with Friedman's strategy of broadening its service offering into complementary areas, working with a management team that is committed to developing the business further. It is expected that both businesses will benefit from the relationship moving forward,' the company said. At 9:31am: [LON:CEPS] CEPS PLC share price was 0p at 28.5p



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