California, August 16, 2025
News Summary
Thrifty Ice Cream, a West Coast favorite, has been acquired by Hilrod Holdings for $19.2 million amid Rite Aid’s bankruptcy proceedings. This acquisition aims to preserve the brand’s traditional recipes and expand its offerings. With plans for new flavors and broader distribution beginning in the fall, the iconic brand seeks to rejuvenate its presence while maintaining its commitment to quality and heritage.
California
Thrifty Ice Cream, a beloved West Coast brand, has been acquired by Hilrod Holdings for $19.2 million amidst the bankruptcy proceedings of Rite Aid Corp. The deal, finalized following a court ruling, reflects the investment group’s desire to rejuvenate this iconic brand while upholding its traditional values.
The acquisition was confirmed when Hilrod was announced as the successful bidder in court documents dated June 26. This deal received official approval from a federal bankruptcy judge on July 1. Along with Thrifty Ice Cream, Hilrod Holdings also purchased assets linked to KPH Healthcare Services, further expanding its portfolio.
Hilrod Holdings, headed by Monster Energy CEO Hilton Schlosberg and former co-CEO Rodney Sacks, is committed to preserving the essence of Thrifty Ice Cream. The company’s strategy focuses on maintaining the current management team while enhancing its outreach to customers. This includes preserving Thrifty’s original recipes and signature scoop style, which have become synonymous with the brand.
Consumers can expect to see new flavors and updated packaging options rolled out soon. Additionally, the existing products will continue to be available at current retail locations, with plans for expanded distribution starting this fall and throughout the next year. To ensure high product quality and availability, Hilrod plans to invest in manufacturing and logistical upgrades that aim for long-term growth.
Background of Thrifty Ice Cream
Established in 1940 at a small factory in West Hollywood, California, Thrifty Ice Cream quickly became a staple within the West Coast ice cream market. By the 1970s, it had garnered significant celebrity endorsements and found its place in American culture. In 1976, the ice cream plant moved to El Monte, California, where production continues today.
Thrifty Ice Cream has always prioritized quality, and its products are made with Real California Milk. Many of the original recipes still in use harken back to its early days, reinforcing the brand’s commitment to tradition even as it seeks to modernize its offerings.
Leadership Transition
Hilrod executives bring invaluable experience in brand revitalization. They successfully transitioned Hansen’s from a regional soda company to an international energy drink powerhouse with Monster. Sacks, stepping down as co-CEO of Monster, will shift out of direct leadership, allowing Schlosberg to continue guiding the company as CEO.
Future Prospects
As Hilrod Holdings embarks on this venture, the focus remains on reconnecting with longtime fans of Thrifty Ice Cream while engaging new audiences. The combination of a rich history and a modern revitalization strategy presents a promising outlook for the brand.
FAQ
What is the significance of the acquisition of Thrifty Ice Cream?
The acquisition by Hilrod Holdings represents a commitment to revitalizing the iconic Thrifty Ice Cream brand while maintaining its traditional recipes and quality standards.
Who are the owners of Hilrod Holdings?
Hilrod Holdings is owned by Hilton Schlosberg, the CEO of Monster Energy, and Rodney Sacks, the former co-CEO of Monster Energy.
What changes can consumers expect from Thrifty Ice Cream?
Consumers can look forward to new flavors and updated packaging while the original recipes and scoop style will remain unchanged.
When will Thrifty Ice Cream be available in more retail locations?
Thrifty Ice Cream is set to expand its distribution beginning in the fall and continuing into the following year.
Chart of Key Features
| Feature | Details |
|---|---|
| Acquisition Price | $19.2 million |
| New Ownership | Hilrod Holdings |
| Expansion Plans | New flavors and wider distribution |
| Legacy | Original recipes and scoop style preserved |
| Production Location | El Monte, California |
Deeper Dive: News & Info About This Topic
- USA Today: Thrifty Ice Cream Acquisition
- AI News: Owners of Thrifty Ice Cream Plan Expansion
- SFGate: Billionaires Buy California Ice Cream Brand
- Food Dive: Monster Energy Execs Purchase Ice Cream Business
- Retail Wire: Rite Aid and Thrifty Ice Cream
- Wikipedia: Thrifty Ice Cream
- Google Search: Thrifty Ice Cream acquisition
- Encyclopedia Britannica: Thrifty Ice Cream
- Google News: Thrifty Ice Cream
Author: STAFF HERE BEVERLY HILLS WRITER
The Beverly Hills Staff Writer represents the experienced team at HEREBeverlyHills.com, your go-to source for actionable local news and information in Beverly Hills, Los Angeles County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Rodeo Drive Concours d'Elegance, the Beverly Hills artSHOW, Concerts on Canon, and holiday celebrations throughout the city. Our coverage extends to key organizations like the Beverly Hills Chamber of Commerce and Visit Beverly Hills, plus leading businesses in luxury fashion, hospitality, and entertainment that drive the local economy. As part of the broader HERE network, including HERELosAngeles.com, HERESantaAna.com, HEREHuntingtonBeach.com, and HERECostaMesa.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
