One of Wales' leading retail brands JoJo Maman Bébé has been acquired in a multi-million-pound deal.
The Newport headquartered maternity and baby goods firm, set up nearly 30 years ago by its founder and chief executive Laura Tenison, has been acquired by retail giant Next - which has taken a 44% stake - with the remainder by hedge fund Kempner Capital Management.
The deal has seen Ms Tenison leaving the business which currently has 87 stores across the UK and with its online business employs around 950 people.
