The company justified its decision by saying that the Derby-based firm, which it acquired in December 2003, "no longer complements Appleton's long-term strategic direction".

Appleton has employed William Blair & Company to handle the sale.

BemroseBooth marketing manager Jake Rudham told printweek.com that the news brought with it "an element of concern" but described it as "largely positive" and that he was "looking forward to the next stage of growth".

BemroseBooth generated around £57m in 2007, 10% of Appleton's revenues, and represents around 20% of its workforce with more than 600 staff.

Rudham said that a change in senior management at Appleton had resulted in a strategic overhaul and a decision to concentrate the portfolio on paper and coatings.

BemroseBooth produces security-printed vouchers and payment cards, variable-data printed labelling and promo items such as calendars, as well as print management services.

BemroseBooth also has operations in Hull and Teesside.

Appleton declined to comment on the move.