Wyndeham has paid 3.92m for the 81-staff firm, which has screen, digital and litho capacity as well as a print management arm which sources web-offset and gravure work in Europe.
The press group, which produces PrintWeek at its Heron plant, will pay a further 1.13m for the Epping-based business if it hits unspecified profit targets for this financial year, which ends on 30 September.
Today's acquisition will add around 16m turnover to Wyndeham's current figure of 141m, and bring total headcount in the group to around 1,700.
Blacketts houses a range of print capacity, including a digital department which boasts Xeikon and Heidelberg presses and five wide-format printers. It also has a screen printing department with five Svecia and Serifast presses and a hand bench.
Paul Utting, Wyndeham chief executive, said: "The addition of screen printing and digital printing capabilities... complements the range of print services which are required to service our clients, as well as offering the potential to enter new markets."
A spokeswoman for Wyndeham said it was too early to give any further details on the integration of the firm, but confirmed that it will be branded Wyndeham Blacketts.
She added: "This is part of our growth strategy through acquisition, and there are no plans to close any sites. That's not the intention."
Blacketts counts a number of big-name blue-chip clients including B&Q, the Foreign and Commonwealth Office, Chard Estate Agents, Ikea UK, Mercedes Benz and Tesco Stores.
Story by Josh Brooks
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