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WESTBURY, N.Y. — Nathan's Famous Inc. has announced the sale of its subsidiary, Miami Subs Corporation to Miami Subs Capital Partners I Inc., an investment entity led by Bruce Galloway and Gary Herman.
 
The purchase price was $3,250,000, consisting of $850,000 in cash and the buyer's secured promissory note in the amount of $2,400,000 payable over a four-year term.

Following the sale of Miami Subs, Nathan's restaurant system consisted of 291 franchised or licensed units and six company-owned units featuring the Nathan's and Kenny Rogers Roasters brands.

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