The business is currently based in Northfield, Birmingham, but a potential new site, which could be "better suited to the needs of the business and its customers", is currently being considered.

In a statement to its 150 staff, the company said: "Should suitable premises arise, please be assured that any decision to relocate will only come after full discussions and consultations with staff.

"The management team are fully supportive of this exciting phase in the history of Kalamazoo."

A spokesman for the company told PrintWeek that internal communication was still ongoing, but it was too early to say where the new site may be located, or whether a sale of the site would get the go ahead.

Last year, Adare sold its Prontaprint and KallKwik high-street print chains to Irish investment firm Boundary Capital.

Kalamazoo Security Print, which the company was called before its recent rebrand, was initially thought to be part of the sale but it was ultimately not included.

The company produces cheques, vouchers and tickets for the financial, retail, events and leisure markets.