Court documents show the Pennsylvania-based Rite Aid found a bidder for its ice cream brand, Thrifty Ice Cream. Hilrod Holdings L.P. will purchase the brand and KPH Healthcare Services for $19.2 million.
The holding company is tied to the owners of Monster Energy. A federal bankruptcy judge in New Jersey approved the transaction on July 1.
According to the ice cream maker’s website, the brand started in 1940 at a small factory in West Hollywood, and it continues to be produced at a facility in southern California.
The brand notably had “scoop counters” in Rite Aids along the West Coast featuring its unique cylinder-shaped scoops. Cartons of the brand’s ice cream are also available in many stores.
Thrifty Ice Cream no longer displays locations on its website.
Rite Aid has listed dozens of stores weekly for closure as part of its second bankruptcy filing in as many years. Many of the chain’s stores have been picked up by rival pharmacies.
As part of a May bidding process, CVS agreed to acquire and operate 64 Rite Aid stores in Idaho, Oregon and Washington. Specific details on this process, which is subject to final approval, have not been released. Walgreens, meanwhile, reached an agreement with Rite Aid to acquire prescription files from some of its pharmacy locations across nine states.
Stores in PA, meanwhile, have not experienced a similar kind of rescue.
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