Leicester-based PPG made 12 redundancies as part of the move, which chief executive Chris Bowen said was done in order to improve efficiencies and synergies across the print side of the company.

The Enderby factory is now being advertised for sale or for lease. PPG still has two Fastant facilities in the city, its storage and distribution business.

C&R Printing Services moved to the facility four years ago, originally sharing Taylor Bloxham's site.

Bowen said: "This is part of a group consolidation that has taken place over the last 18 months. The move will bring us a lot of cost savings and massive synergies."

He also said that the group was intent on improving its profitability after it announced a £1.2m loss in its most recent results.

Bowen added: "We have moved on a long way since our last results; the last 18 months have been a complete transformation. Consolidation has brought an extremely good improvement.

"We expect to see a large movement in our results this year, particularly with regard to our profitability, that is where the priority is."

PPG's turnover is expected to be around £23m this year, 60% of which will come from Taylor Bloxham and 15% from C&R Printing Services, although Bowen added that the two companies' turnover was increasingly crossing over, with work shared across the businesses. The remaining 25% comes from Fastant.

The company now has around 200 staff, with 150 in the printing side, down by around 40 from its peak.