The Mad Martha’s Ice Cream stores have been sold for $6 million, marking a new era for the iconic 50-year old Island business. The sale of three properties closed May 13.

The iconic Island ice cream franchise begun 50 years ago is for sale, with an asking price of $10.5 million, which includes the business and three shops in Edgartown, Oak Bluffs and Vineyard Haven.

Michael Ryan has sold his Main street Vineyard Haven restaurant to the owners of Mad Martha’s Ice Cream and Skinny’s Fat Sandwiches for $1.2 million. The new owners plan to reopen in time for Memorial Day.