The deal was announced in May, but was subject to merger control clearance by the relevant authorities.

NP Druck will now join Leykam Let’s Print in Walstead’s CE division. Managing director Michael Steinwidder remains with the business in an advisory capacity.

NP Druck runs four web presses: three 16pp models and a 48pp, along with a sheetfed press for covers and associated finishing kit. Last year the business processed almost 35,000 tonnes of paper and had sales of €51.3m (£45.3m).

Walstead chairman Mark Scanlon said NP Druck’s specialism in low-to mid-volume production “perfectly complemented” the existing Leykam setup.

“This unique combination will enable these businesses to offer the widest range of print to our Austrian and German customers,” he said.

The acquisition is Walstead’s third continental deal in three years. PrintWeek understands that the group has further targets in its sights.

There was no further update on the NM Rothschild review into future financing options for the business, which could enhance the group’s ability to make further buys.

Walstead, which had sales of €481.1m last year, now lays claim to being Europe’s largest independent commercial printing group. The NP Druck buy will propel sales well beyond €500m.