Rite Aid’s bankruptcy proceedings have led to hundreds of store closures, and now the sale of a well-known ice cream brand that has been a West Coast favorite since the 1970s.
Hilrod Holdings was named the winner in a bid to acquire Thrifty Ice Cream from the nationwide pharmacy chain.
The holding company, tied to Monster Beverage Corporation executives Hilton Schlosberg and Rodney Sacks, will pay $19.2 million for the brand, USA Today reported.
Hilrod Holdings’ future plans for Thrifty Ice Cream remain unknown.
Rite Aid announced its fourth round of store closures last month as the Pennsylvania-based company works through its second bankruptcy filing.