DCM bought RRD’s subsidiary Moore Canada - which traded as RRD Canada - through a share purchase agreement that saw it buy the entirety of RRD Canada’s issued and outstanding shares.

Rael Fisher, president of RRD Canada, said: “Combining our business with DCM is a strategic opportunity to broaden our existing offering to customers across a variety of industries.

“We look forward to this new chapter in our longstanding history in Canada as part of DCM.”

The sale follows Chatham Asset Management’s purchase of RRD in early 2022. Its largest investor, Chatham bought out the rest of RRD’s shares, taking the company off the New York Stock Exchange.

Tom Quinlan, president and CEO of RRD, said the Canadian deal would help RRD focus on its main business.

“This transaction not only brings together two organisations with complementary business models but it also advances and strengthens RRD’s strategic plan to hone in on its core businesses,” he said.

RRD’s third quarter results, posted in November 2022, demonstrated a marked improvement for the firm, which had accrued outstanding debts of $1.47bn (£1.22bn) at the end of 2021.

It saw net sales increase by $113m - 8.9% - in the year from Q3 2021.