Brewer and pub operator Greene King has confirmed plans to sell a package of about 150 tenanted pubs, most of them in the South of England.
The pubs, most of which are freeholds, are a mix of smaller, drinks-led operations and sites with property redevelopment potential.
The company is understood to have appointed consultancy PricewaterhouseCoopers to advise it on the sale process, although the asking price is not known, according to The Times newspaper.
Greene King chief executive Rodney Anand confirmed the sale plan, explaining that the pubs affected were of a high quality but no longer met the group's estate criteria.
The move reflects a wider trend in the pub sector where operators have started to offload "wet-led" pubs before the smoking ban next year to focus on food-based operations.
By Daniel Thomas