The Channel Islands' largest retailer, Sandpiper, wants to take over Randalls of Guernsey.
The company is hoping to acquire The Guernsey Pub Company, which is the holding company of Randalls.
The buy out still needs to be approved by the The Channel Islands Competition and Regulatory Authorities (CICRA), but it is hoped it will be completed by the end of February after contracts have been exchanged.
If it is given the go-ahead, it will be the first major investment of Sandpiper since it was listed on The International Stock Exchange at the end of May 2019.
The company has said that no redundancies are expected across the 20 pubs and hotels that Randalls operate across Guernsey and Sark.