Clifford Frost has been bought out of administrative receivership for an undisclosed sum by Cardiff-based Astec Press.


Clifford Frost will retain its name and operate as a division of Astec Press.


Astec Press spokesman Chris Coles contacted PrintWeek to confirm that a deal had been agreed. He said: "Wed been in talks for a few days and managed to beat off competition from a number of other companies."



Coles said that Astec would retain the workforce of approximately 40 staff that receiver Levy Gee had on its books. "Theyre a good team of long-standing staff," he added.



Former owner John Quinney has left the company and will be replaced by either a managing director or divisional manager, although Coles said that a replacement had yet to be decided. He added: "John Quinney is a gentleman of the trade. His attitude reflects on the staff there."



Coles said that there had been a positive response to the news from Clifford Frosts customers.


Story by John Davies.