CANFIELD, Ohio - A Canfield restaurant has been sold to a new owner.

R46 Restaurant & Bar has announced on its Facebook page Sunday that its owners have made the decision to sell the restaurant. The post thanks customers for their support over the years and the memories they've created.

"There have been so many fun memories and events that brought us together to celebrate. Our staff has been so passionate about what they do, and we couldn't be prouder of their grit, pride and commitment," the post reads.

R46 was owned and operated by the Howlett Restaurant Group, who also owns and operates Magic Tree Pub & Eatery in Boardman, as well as Coaches Burger Bar, which has multiple locations across the Mahoning Valley.

Patrick Howlett with the Howlett Restaurant Group tells 21 News the restaurant's lease was nearly up and they were looking for an exit strategy. That's when a local buyer came up and made an offer.

Howlett says the buyer plans on opening a new restaurant on the property known as The Rusty Mug. Howlett expects that new restaurant to open within the next 60 days.

Any R46 gift card will be honored at Magic Tree as well as any Coaches location. If the card does not work, card holders will be issued a refund of the remaining balance.

21 News has reached out to the Howlett Restaurant Group to get more information about the sale and who the new owners are of R46 and we're waiting to hear back.