Foodvest subsidiary The Seafood Company has purchased Pinneys of Scotland from Uniq in a deal that will take its share of UK chilled seafood to 40%.

The acquisition of the fresh and smoked salmon supplier was backed by Lion Capital and is subject to employee consultation.

A figure for the acquisition has not yet been disclosed, but Pinneys' owner Uniq welcomed the deal.

Although it had been working hard to turn the business around, it had been "severely hampered by the significant deterioration in the market," said chief executive of Uniq, Geoff Eaton.