The new owners of Thrifty Ice Cream have announced an expansion plan and “West Coast revival” for the beloved California ice cream brand.
Investment group Hilrod Holdings, owned by Monster Energy Corp. executives Hilton Schlosberg and Rodney Sacks, acquired Thrifty this July. They plan to revitalize the brand with an expansion of flavors and retail locations.
What’s next for Thrifty
Thrifty was previously owned by Rite Aid, and the budget ice cream scoop counters were a quintessential part of many West Coast Rite Aid stores. After Rite Aid filed for Chapter 11 bankruptcy this summer and announced the closure of 500 stores, Hilrod Holdings stepped in to buy Thrifty Ice Cream for $19.2 million.
While details are still TBA, a recent press release tells us that Thrifty will retain its original recipes and signature flat-topped scoop style.
The brand will introduce new flavors and packaging options “in the near future,” and should arrive on shelves in new geographic regions and retailers at some point this year. Hilrod Holdings is also in the process of modernizing Thrifty’s manufacturing and production processes.
The legacy of Thrifty Ice Cream
Thrifty Ice Cream was founded in 1940 in West Hollywood and quickly became a staple of Downtown L.A.’s flagship Thrifty Drug Store. The award-winning brand reached cult status by the ’70s, and when Rite Aid purchased and renamed the drug store in 1996, they kept the Thrifty Ice Cream name.
Now, the brand continues to produce the same ice cream recipes that still bring back memories for Californians. Popular options include the legendary Chocolate Malted Krunch, the colorful Rainbow Sherbet, and classic Mint Chip. You can currently purchase Thrifty Ice Cream in the freezer section of remaining Rite Aid locations, Albertsons, and Vons.
Thrifty’s expansion will begin this fall and continue into next year. Keep an eye out for digital and in-store campaigns as they roll out new announcements and changes.