Majestic Wine has agreed to sell its retail business to US firm Fortress Investment Group for £95 million, the group said.
The sale includes the company's stores, website, headquarters, trade division and French arm.
Following the transaction, the London-listed group currently known as Majestic will be renamed after its online business Naked Wines, which it took over in 2015.
A representative for Fortress Investment Group said: "Majestic is a British institution, occupying a unique position as the nation's largest wine retailer.
"It offers a seamless customer experience across multiple channels - physical retail, online, subscription and to the on-trade - and has a customer base which loves its stores, people, brand and, of course, wines.
"We are excited to work with management to grow the Majestic story."
Joshua Lincoln, managing director at Majestic, said: "We intend to be the leader in the UK retail revolution with a focus on experience, expertise and product.
"Over 1,000 roles and Majestic's store network will remain. Majestic has grown through periods of dramatic change, I know we have the recipe to do it again."
