Adrian Barraclough, the owner of investment group Audasi, is reported to have paid a six-figure sum to buy the business from Sheffield-based administrator the P&A Partnership.

Seven jobs have been saved through the deal, which was completed just before the Total Processing & Packaging show at the end of May.

The new firm, which has been rebranded Sessions Label Solutions, is headed by Simon Davy, who was previously technical manager of Sessions' label machinery division, while Gary Hall, who was previously sales manager, is now sales director.

The deal means that all three divisions of Sessions of York, the 199-year-old label printer, have been sold since it went into administration on 21 April.

Paragon Print & Packaging bought the label printing division, which was the largest of the three, at the end of April. The commercial printing division was later sold to Leeds firm Technoprint.

Sessions Label Solutions is still trading from the Huntingdon Road site it occupied prior to the administration. However, Hall told PrintWeek's sister title Packaging News that the business was likely to move before the end of the year to another site in the York area.