Johnston Press has agreed to buy Scotsman Publications in a deal worth £160m.

The sale includes the morning Scotsman newspaper, the Edinburgh Evening News, Scotland on Sunday, the weekly free Edinburgh Herald & Post series, and the website www.scotsman.com.

Johnston Press chief executive Tim Bowdler, said: “Scotsman Publications comprises one of Scotland’s highest quality newspaper portfolios and The Scotsman and its website Scotsman.com are amongst Scotland’s best known newspaper and Internet brands.

“With its Scottish heritage, Johnston Press is particularly pleased to have reached agreement to acquire Scotsman Publications.”

Under the terms of the agreement, Johnston Press will acquire the entire issued share capital of Scotsman Publications from the owners, the Barclay Brothers’ holding company. The Barclays also own the Telegraph Group through the Press Holdings Group, which in turn owns The Scotsman Publications Ltd.

It has a total weekly paid-for circulation of 840,000 and a weekly free distribution of 254,000.

Scotsman.com registered more than three million monthly unique users and more tham 20m page impressions in its most recent ABC audit, and has been voted Britain’s best newspaper website by the Newspaper Society in two consecutive years.

In the last financial year ended December 31 2004, Scotsman Publications reported pre-tax profits of £7.7m on turnover of £63.5m, with gross assets of £127.5m.

Andrew Neil, publisher of the Press Holdings Group, owners of The Scotsman Publications Limited, said: “It has been a privilege to own and run a prestigious flagship title like The Scotsman, along with its successful associated titles, these past 10 years.

“But we are delighted to have reached an agreement with Johnston Press which not only recognises the value and improvements we have added to the titles over the decade but secures their long-term future.

“The Scotsman and its sister papers will now have the advantage of being part of a larger Edinburgh-based group. We wish the new owners, the newspapers and their dedicated staffs every success in the future.”