The company, which will be renamed Native PS Magazine Distribution was acquired in a share transaction for an undisclosed sum by £49m-turnover Garnett Dickinson.

Nick Alexander, group chief executive of Garnett Dickinson, said: "Our publisher customers tell us they would like support in a number of core activities in addition to printing.

"Native is a long-standing specialist business with great opportunity for growth that fits nicely with our portfolio of services."

The news follows the announcement that wholesaler and distributor The Magazine Marketing Company has gone into administration, which was the UK's largest independent newstrade distributor.

Sallyanne Pitt and Paul Clark, of MCR, were appointed joint administrators of MMC, which represented more than 135 clients and 400 magazines, last Friday (21 May).

MCR's Pitt said the company had a long history of distributing well-known magazine titles and collectables to the newstrade and its administration was an "extremely unfortunate" situation.

"The company is not continuing to trade. Parties that have an interest in acquiring any of the company’s assets should contact us without delay," she added.