London operator Forest Inns has bought its second site — Ye Olde White Bear in Hampstead.
The Punch lease was sold off an asking price of £130,000 by agents Davis Coffer Lyons.
Forest Inns, which is headed up by Jasper Gorst, already operates the Oak, another Punch lease in the Westbourne Grove area of London.
Ye Olde White Bear has a 60-cover open-plan ground-floor trading area as well as outside seating.
Owner's accommodation comprises four bedrooms. The pub has a strong real-ale reputation and a five-star rating in a Time Out guide. The business turned over £360,000 last year, with trade split 70% wet and 30% dry. The rent is £58,500 per annum.
The new owners plan to develop the property by introducing a private dining room on the first floor.
Gorst said the new style would be "traditional, with a twist".
The vendors, Chris and Fiona Ely will continue to operate their other pub, the Prince of Wales in Highgate village, as well as spend more time at their home in Spain's Balearic Islands.