Jarvis Porter is selling its swing tickets and tags business to a management team led by Trevor Jackson, the manager of the groups Creative Packaging division.
The new company, Spreckley, is paying 600,000 and will take over Jarvis Porters leasehold premises in Nottingham.
The deal will see 27 employees transferring to the new business.
The group announced the closure of the Creative Packaging division in May (PrintWeek, 11 May), but at the time chairman Michael Maher said it would look to sell the Hinckley plants discrete activities, such as swing tickets.
Jarvis Porter previously advised that the balance of the lease on the Nottingham site had been provided for in last years accounts.
Have your say in the Printweek Poll
Related stories
Latest comments
"I have worked in quite a few print sectors, including Walstead in the past. It is all tough, but most will not be surprised that the packaging sector is still growing. However, the service in the..."
""longer run litho work had “now returned to the Far East”?
Is this happening a lot?"
"Thanks Jo, look forward to reading it in due course. Administrators generally argue that they need to act with lightning speed in order to protect the business/jobs, thereby overlooking the fact that..."
Up next...
Revenue up to £3.2m, profits quadupled
Footprint picks up pace of acquisition strategy with Swindon’s C3
Controversy emerges over relationship with potential suitor
National World shares soar on takeover approach
24/7 access for customers
Bakergoodchild launches new SaaS platform
Strategic move for global growth