A labeller includes a waste liner rewind wheel for taking up the release liner after it has been separated from the labels, and a print mechanism positioned along the label path for real-time printing of a desired print material on the labels. In one embodiment, the waste liner rewind wheel includes a mechanism for adjusting the speed of the rewind wheel as the amount of waste liner on the rewind wheel increases, while maintaining sufficient tension on the waste liner to pull the waste liner onto the rewind wheel. In another embodiment, the print mechanism is mounted to the frame along the label path, such that the print mechanism is capable of printing on the labels as they are moved past the print mechanism. The labeller may additionally include an encoder for registering the position of the label web with respect to the print mechanism.