PHILADELPHIA — Rite Aid has found a buyer for Thrifty Ice Cream in the middle of the pharmacy chain's bankruptcy proceedings.
Hilrod Holdings was named the successful bidder for the ice cream maker and KPH Healthcare Services in court documents filed June 26. The transaction was approved July 1 by a federal bankruptcy judge in New Jersey, according to court documents.
According to USA Today, the holding company is tied to Monster Beverage Corp. executives Hilton Schlosberg and Rodney Sacks, will pay $19.2 million for the purchased assets, according to court documents. Sacks resigned as co-CEO in June ahead of retiring from the company, while Schlosberg would continue as CEO, according to SEC filings.
Rite Aid has closed over 1,000 stores since they announced bankruptcy proceedings in May
