Edgartown Marine has been sold to new owners.

George and Sheryl Roth Rogers of Lexington and Vineyard Haven will take ownership of the business at the town-owned boat yard on Monday, pending bank approval. The boat yard is at the end of Morse street on the Edgartown harbor.

The sellers are Maurice Dore and Anthony (Tony) Chianase; the sale price has not been disclosed. Edgartown selectmen approved transfer of a long-term lease for the new owners at a special selectmen’s meeting Friday afternoon.

“We look at this as a landmark business with real tradition,” said Mr. Rogers on Friday afternoon.

Mr. Dore and Mr. Chianese bought the company from Leonard Greene in 1994. In 1997 Mr. Greene sold the property and docks to the town for $1.4 million after much discussion about the need to keep a boat yard in town. At the time the town signed an 89-year lease with Edgartown Marine. The lease will now be transferred to the new owners of the business.