A landmark deal has seen the Thrifty Ice Cream brand—rich in Southern California nostalgia—sell for $19.2 million during Rite Aid’s Chapter 11 proceedings, raising hopes for its revival despite store closures.
At a Glance
- Thrifty Ice Cream was acquired by Monster Energy executives Rodney Sacks and Hilton Schlosberg via Hilrod Holdings.
- Rite Aid’s bankruptcy triggered the shutdown of over 500 in-store scoop counters nationwide.
- The brand’s legacy stems from its 1940 origins and iconic cylindrical scoops—originally served at Thrifty Drug Stores.
- Loyal customers fear the loss of scoop counters, but pre-packaged tubs remain available at other retailers.
- Ownership change offers a potential revival, though the fate of the El Monte factory and branding remains uncertain.
Sale Marks New Chapter For A Cult Classic
Hilrod Holdings, an investment group run by former Monster Energy executives, finalized the purchase of Thrifty Ice Cream on June 27 for $19.2 million during bankruptcy proceedings. The deal includes the rights to the Thrifty name, its inventory, and production assets. Known for its nostalgic cylindrical scoops and 1940s heritage, Thrifty has long been a fixture in West Coast households, especially through decades of sales at Rite Aid drugstores.
Scoop Counters Vanishing, But Tubs Survive
As part of Rite Aid’s second bankruptcy restructuring, more than 500 scoop counters are being shut down across the country. However, Thrifty’s signature ice cream remains available in packaged form at various grocery and independent retailers. The El Monte manufacturing plant—home to production of fan favorites like Chocolate Malted Krunch—is included in the sale and may continue operations under new ownership, pending undisclosed plans from Hilrod.
Watch a report: Rite Aid finds buyer for Thrifty Ice Cream – KTLA 5 Morning News
Future Remains Untested—but Hope Persists
Loyalists to the brand are vocal: one California native called Thrifty “the purest of the major brands,” voicing concern over its fate post‑sale. Although no formal roadmap has been released, Hilrod’s history of brand transformation—most notably turning Hansen’s into Monster Energy—suggests a potential for revival. For now, fans await signs that the company’s identity, scoop-shop magic, and factory-fresh flavors can thrive again under new leadership.
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