Thrifty Ice Cream, a beloved California brand, faced uncertainty following Rite Aid's bankruptcy in 2023, which resulted in over 1,000 store closures. The brand has strong nostalgic ties for Californians, known for its affordable and tasty ice creams. Hilrod Holdings, owned by the founders of Monster Energy Drinks, acquired Thrifty for $19 million, securing its production and transportation equipment. Founded in 1940, Thrifty originally produced ice cream for its drug store soda fountains, marking its long-standing presence in the market.
The brand was acquired by Rite Aid in 1996 and was primarily available through its stores since. The survival of subsidiaries like Thrifty had been in doubt.
Hilrod Holdings reportedly paid $19 million for Thrifty, which includes all of the brand's production and transportation equipment as well.
Thrifty Ice Cream was founded all the way back in 1940 in West Hollywood. Originally, the owners bought ice cream for their soda fountains from vendors.
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