The Guinness Book of Records, the 46-year-old publication established by the Guinness brewery to settle pedantic arguments in pubs, has been sold to the makers of Thomas the Tank Engine and Sooty.

Children's entertainment group Gullane has agreed a deal to buy Guinness World Records, which publishes the book, from drinks group Diageo for £45.5m in cash.

The deal, which is to be financed through debt, represents a £15m discount on previous estimates for the the business.

Gullane said it was well placed to develop the brand which sells in 82 countries and 24 languages. "We believe that our expertise in television and licensing will generate significant opportunities to increase the exploitation of the Guinness World Record brand," it said. There are no plans to change the Guinness brand name.

Founding editor Norris McWhirter has recently criticised the business for focusing on downmarket trivia records. He hoped the business would be bought by a highbrow British publisher and regain its status as a serious reference publication.

Gullane chief executive William Harris said he planned to continue focusing on a core readership among eight to 13-year-olds - an age group the company knows well.

Guinness World Records, based in north London, made annual profits of £5.7m on sales of £23.3m in the year to June 2000. It also produces the British Book of Hit Singles.