Majestic Wine has signed a deal with Fortress Investment Group to sell all of its retail stores for 95 million pounds, a move that will allow the company to transition into an online-based retailer.

Activist investor Elliott Management had previously expressed an interest in Majestic, making a bid for the company in May. And private equity firm Opcapita was also reportedly in the running.

Activist investor Gatemore Capital Management, which put pressure on Majestic to restructure, praised the move. “We welcome the outcome of the sale process. Having worked closely with the board and management to ensure shareholder value is maximized, we are excited for the company’s prospects going forward as a standalone, high-growth and profitable business,” Gatemore’s managing partner Liad Meidar said in a statement.

The 3.8% shareholder had questioned the wisdom in operating both a subscription business and retail outlets under the same roof.

Majestic had acquired the Naked Wines online brand in April 2015 for 70 million pounds and Gatemore wants the company to focus on this sector of the business. Gatemore, a 3.8% shareholder, sees massive potential in the Naked Wines brand and hopes to see its operations expand as a result of this deal.

Shares in Majestic have climbed 5.9% in 2019, reaching 259.37 pence. Shares were up more than 1% at market opening Friday British Summer Time in London.