The freeholds of the 17 pubs have been bought for an undisclosed sum, with completion expected on 18 May.
Details on the pubs will not be announced until the deal is completed, but Midlands-based Charles Wells confirmed that they will "provide new geographical trading areas for the company".
Anthony Wallis, managing director at Charles Wells Pub Company, said: "These high quality pubs are an excellent addition to the award winning Charles Wells estate and reflect our strategy of investing in great properties and retailers with sustainable businesses."
Purchase of the 17 pubs brings the Charles Wells estate in England to 251, all operated on tenancy or lease agreements.
The deal marks the fourth disposal sale for Punch this week, as it looks to pay off more debt. It sold 13 pubs to Shepherd Neame for £15m, 10 pubs to Manchester brewer and pub operator JW Lees and one pub to emerging operator Heartstone Inns.
By Daniel Thomas
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