Monster Beverage Executives Acquire Thrifty Ice Cream Brand and Healthcare Business
A recent acquisition has seen a holding company linked to Monster Beverage executives, namely Hilton Schlosberg and Rodney Sacks, purchasing the iconic Thrifty Ice Cream brand along with a healthcare business for a total of $19.2 million.
The transaction, finalized as part of Rite Aid’s bankruptcy proceedings, was approved by a federal bankruptcy judge on July 1. Rite Aid, the previous owner of the 85-year-old ice cream brand, made the decision to sell it along with KPH Healthcare Services.
Although the future plans for Thrifty Ice Cream under Hilrod Holdings remain undisclosed, it is worth noting that Schlosberg and Sacks have a track record of revitalizing struggling companies. The duo is famously known for their involvement in the transformation of Hansen’s, a former soda and juice provider, into the global energy drink powerhouse, Monster.
Having acquired Hansen after its bankruptcy filing in 1988, Sacks and Schlosberg oversaw the company’s evolution into a multi-faceted beverage corporation. Monster’s portfolio now includes not only its flagship energy drink but also craft beers, hard seltzers, and flavored malt beverages.
Following Sacks’ departure from Monster in June, Schlosberg now serves as the sole chief executive of the company, continuing to drive its expansion and innovation in the competitive beverage market.
It will be interesting to see how the experienced leadership of Schlosberg and Sacks will shape the future of Thrifty Ice Cream and the healthcare business under Hilrod Holdings, potentially bringing a new wave of success to these established brands.