Southern Colour Print is being sold to Bluestar, a marketing and printing company which has offices around the country.
Southern Colour Print managing director Sean McMahon said last night the sale was expected to be settled shortly.
He confirmed if the deal went ahead staff would be made redundant.
Staff had been informed of the situation.
The company was working to find new jobs for staff, he said.
He declined to confirm when trading would cease, saying details were still being settled.
He also declined to comment on why the company was being sold.
The Otago Daily Times understands staff will receive a notice about redundancies today, which states the business will cease trading on May 13.
Southern Colour Print is renowned as a world leader in the printing of stamps.
It has won many national and international printing awards and was commissioned by New Zealand Post to print stamps marking many occasions, including royal visits and events.
Its website says the origins of the company can be traced back to 1870.
In 2020, Southern Colour Print was reported to be employing 26 staff, who had agreed to work reduced hours at the time due to the effects of Covid-19.
Staff at the business have a collective agreement with Etu, the union covering print industries.
Organiser Gwyn Stevenson said despite the buoyant job market, the news came as a shock to staff and their families.
He declined to comment further last night.
