Caffe Uno is to be snapped up by the owner of the Chez Gerard and Bertorelli chains in a £33 million deal.
Paramount Restaurants, which also owns Livebait and Cafe Fish, will triple in size through the " transforming" acquisition of 53 Caffe Uno outlets.
The Restaurant Group said it had decided to sell them off because it wanted to reduce its exposure to the "highly competitive" high street.
The owner of the Frankie & Benny's chain said: "The directors believe the high street, where Caffe Uno operates, has become a more competitive environment and that spending patterns have become more focused on out of town locations with easy parking and access."
Another five Caffe Uno outlets - including one in Shrewsbury - are not included in the deal will be sold or rebranded by The Restaurant Group. The Midlands has other Caffe Uno outlets in Birmingham, Stratford and Rugby.
Paramount said it planned to refurbish and modernise Caffe Uno to attract a "wider and new customer base".
It will also covert a handful of sites to its Chez Gerard format, although it did not say how many.
Caffe Uno, which specialises in Italian food, was established in 1993 and at its peak had almost 70 restaurants. The part of the business being sold recorded earnings of £4.9 million on sales of £36.2 million in its last financial year. Paramount will operate a total of 77 restaurants following the deal, which is due to be completed next month.
The move will allow The Restaurant Group to focus on its core activities, which include the Garfunkel's, Chiquito and Edwinns Brasserie chains.