Majestic Wines stores in Cumbria have been sold off to an investment group as part of a £95 million deal.

The county’s stores in Carlisle and Kendal have been picked up by CF Bacchus Holdings Limited – an investment vehicle controlled by Fortress Investment Group LLC – after a deal agreed back in August with Naked Wines was rubber-stamped on Wednesday.

The sale includes Majestic Wine Warehouses Limited and Les Celliers de Calais S.A.S, which together comprise of Majestic’s retail and commercial businesses.

The deal was first announced on August 2 – just a few days before Majestic Wine Plc changed its name to Naked Wines.

Naked Wines has now become a single brand focused entirely on online wine sales, said the London Stock Exchange listed company.

It described the disposal as “a major milestone in the Group's history, enabling the Board to focus on driving growth in the Naked Wines business, which has a disruptive online model and operates in fast growing markets”.

It will also pay out a special dividend of 5.2p per share to shareholders.

Naked Wines connects more than half a million wine-drinkers with over 200 independent winemakers around the world.