FAMILY-RUN Aberystwyth printing firm Cambrian Printers has been sold - but the new owners have pledged to “look after” current staff.

Cambrian Printers, established in 1860 as a newspaper publisher, and owned by the Read family, has been bought by magazine printer Pensord, a recent UK Printer of the Year which is based in Pontllanfraith, Gwent.

Pensord takes the reins tomorrow and has made a commitment to maintain the 50-plus workforce at the circa-£7m turnover Cambrian Printers.

Cambrian Printers’ owners, Robert and Tim Read, will be retiring from an industry their family has worked in for 90 years.

Robert Read said this week: “Cambrian has been a significant employer in west Wales since 1860 when we printed the Cambrian News, and 1927 when the Read family took the helm, so when we decided to sell it was important we found a buyer who had a real understanding of what we do, and an empathy with our staff.

“Pensord is a hugely respected name in the industry, building a very successful business, and winning awards and credit for their expertise and the way they treat their ‘Pensord people’, so we feel there could be no better name to take Cambrian forward from here.”

Pensord is another long-standing Welsh printer with 400-plus magazine titles. Pensord has a turnover of £12m and employs more than 150 people,

Pensord managing director Darren Coxon said: “Cambrian Printers is a well respected name in the industry with a portfolio of long-standing customers, so when the opportunity to purchase arose we jumped at it.

“In challenging times with a number of big printing names going to the wall, this acquisition gives us the chance to expand our capacity and takes us into new commercial territories, adding to our digital work, and broadening our footprint within Wales.

“Robert and Tim have been terrific to deal with, and we wish them well in their retirement, safe in the knowledge that the business is in stable ownership, and that we will look after the company staff.”

Mr Coxon added: “Cambrian shares a similar customer-focused culture to ourselves, and so we don’t foresee a great upheaval in operations as we look to take the business forward.”

Pensord said the Cambrian Printers name will remain for the time being as it was well established in a number of sectors, including printing high quality catalogues for well-known national fine art auction houses.

It is understood the Read family is retaining the freehold of the Cambrian Printers building in Llanbadarn Fawr, but will lease it to Pensord.