"The sale completes a strategic review of our brands, which identified the core sectors Haymarket are determined to invest in during the next few years," said Haymarket Business Media, publishing director Paul Twite.

"The move will enable us to focus our intellectual energies and drive the continued development of the PrintWeek brand in the UK and across the globe."

London-based Metropolis owns business titles in markets including construction, travel and finance and also has a portfolio in the retail market, including titles such as Independent Retail News, Duty Free News International and the website Talking Retail.

Alongside Packaging News, Metropolis has also bought technology title AV from Haymarket Media Group.

Editorial and commercial teams from both titles will move into the Metropolis Business Media division.

Metropolis Business Media managing director Kevin Crook said: "Packaging News covers a vibrant and important industry and I am looking forward to continuing to grow the brand as part of the Metropolis stable."