London-based Celinco completed the sale on 18 September, and it is due to have meetings with PBB staff later on today regarding the future of the company. PrintWeek has been unable to contact Celinco at this stage.
However, following the acquisition of PBB, Celinco sales director Johanna Hiney said the intention is to run the business on its existing footing using the current staff.
She said: "In addition to this commitment, Celinco has other exciting offerings they will bring to this venture including a full marketing service to existing customers."
The company describes itself as a print consortium that can offer existing customers "a full marketing service from press through to radio, TV and online capabilities", along with a digital print operation.
It also said it has a web-based customer print ordering platform.
Administrator Graham Wolloff of Elwell Watchorn & Saxton was appointed to PBB on 1 September 2009.
He said the company, which has a turnover of £3.5m, had continued to trade with considerable support from customers and staff whilst seeking a buyer for the business.
"The level of interest in one of Cambridge's longest-established printing businesses was such that more than one offer was received and the successful bidder was Celinco," he said.
"I am delighted that we have been able to find a new owner for Piggott Black Bear and that the majority of staff have retained their jobs."
Piggott Black Bear, which prints journals, magazines and high-quality corporate and commercial colour print, went into administration following a sharp decline in orders.
It was formed in 2004 following the merger of Piggott Printers and Black Bear Press, which together had more than 180 years of print experience.
The business failed in October 2007 and was bought by Philip Colchester, who is currently the managing director of Colchester Print Group. He will not remain with the new business.
The failure of PBB has no bearing on Colchester Print Group, which comprises of Breckland Print, Moreton Hall Press and Norwich Labels.
