Retailer Majestic Wine is to buy online rival Naked Wines for up to £70 million.
Naked Wines, founded in 2008, runs a crowd funded business where around 300,000 subscribers help fund over 130 independent winemakers in 14 countries in exchange for access to exclusive wines at preferential prices.
It generated sales of £74 million last year, up 40% on a year ago, but made a loss of £3.3 million.
The firms said the combination boosted Majestic's online presence while providing Naked Wines with a nationwide store network to allow a click and collect delivery option for its customers.
Majestic and Naked Wines will continue to operate as independent brands.
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