Pub company Charles Wells has bought the Knife and Cleaver public house in Houghton Conquest, Bedfordshire.
The firm declined to reveal how much it paid for the property or who the vendor was but the pub was on the market for offers in excess of £1.2m.
The 17th century inn's last owner is thought to be small pub firm Old English Taverns, which bought the property in 2008 for £1.2m when it had two AA rosettes.
Richard Burt, commercial and property director of Charles Wells Pub Company said the pub was a "fantastic addition to our estate."
The company now plans to redevelop the site, which is currently closed, and is looking for a licensee to run the Knife and Cleaver as thier own pub business by the summer.
Burt said: "We're looking for experienced operators to come on board as early as possible so that we can work together on the redevelopment and offer the support to help them provide a great pub experience. This is a wonderful opportunity for someone with catering experience to make a real impact on the hospitality industry in Bedfordshire and, with our award-winning support available to them, I'm sure The Knife and Cleaver will become a popular venue once again."
The acquisition of the Knife and Cleaver is Charles Wells's first since it bought 31 pubs in Summer 2009. Christie + Co advised on the sale.
The pub is well positioned to take advantage of the vibrant Bedfordshire economy that includes the Wixams and proposed Center Parcs developments and the NIRAH project in nearby Stewartby.