Nairn-based Piccolo specialises in high-quality engraved and letterpress stationery and serves a worldwide client base.

The 11-strong, £620,000 turnover firm is PrintWeek's reigning Social Stationery Printer of the Year.

Honnor started the business using an Adana on his kitchen table almost thirty years ago, and he will continue to work as a consultant to the company for a year as part of the hand-over process.

One of Piccolo's specialities is printing for HM Forces, and both Honnor and Johnson had navy careers before becoming involved in printing.

Honnor said: "I'm delighted to be handing over to someone who has a background in the printing industry and has also worn a naval hat."

The deal came about after Johnson visited Piccolo during his last days at the BPIF before he stepped down last May, and learned of Honnor's desire to retire.

"I thought, 'Why don't I see if I can buy it?' It's a gem of a printing company with great products and lovely staff," Johnson explained. He said he had invested a six-figure sum in the purchase.

Johnson, who lives in Hampshire, intends to focus on sales generation from the south using his extensive contacts, while making regular monthly visits to the Highlands. His daughter Gemma Pearce will also bring her marketing expertise to the venture on a part-time basis.

The company will be run on a day-to-day basis by directors Margaret Hendry and John Sinclair.

Johnson added: "It's a privilege to take this business on. It has a great culture and belief in staff and their development.

"It doesn't matter if it's 10, 11, 60 or 3,000 employees – it's all about the output you're trying to achieve with the people you're working with. This really is a thrill."

Earlier this month, 200 guests attended a special 'Wayzgoose' party at Piccolo to celebrate Honnor's retirement and the change of ownership.