Majestic Wine has agreed to sell its entire retail portfolio Bacchus Holdings, a vehicle controlled by funds managed by US firm Fortress Investment Group.
The £95million sale includes Majestic Wine Warehouses and Les Celliers de Calais, while a separate deal will see it offload another property for an extra £5million - taking the total value of the sale to £100million.
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."
Majestic plans to use the cash to wipe out its debt and then focus on Naked Wines - its online brand.
Majestic chief executive Rowan Gormley said: "I m delighted that we have managed to secure an independent future for both Naked and Majestic Retail and Commercial, allowing both companies to pursue growth by focusing on their unique propositions.
“I would like to thank all staff, customers and suppliers for their loyalty during this process.
“We look forward to the future and continuing to focus on what we do best… sharing our spectacular wines from our hundreds of talented winemakers with our customers!"
The deal is contingent on shareholder approval, but unanimously recommended by Majestic's board.
It also guarantees the jobs of about 1,000 retail staff at the firm, as the business moves online.
