LOS ANGELES – The new owners of Thrifty Ice Cream announced plans to expand the brand after it was plucked from the remnants of the Rite Aid bankruptcy .

Hilrod Holdings said that they " plan to revitalize Thrifty without altering the core of what made it unforgettable for over 85 years" in an Aug. 7 press release .

Hilrod was named the successful bidder for the ice cream maker in court documents filed June 26 . The transaction was approved July 1 by a federal bankruptcy judge in New Jersey, according to court documents .

The holding company, tied to Monster Beverage Corporation executives Hilton Schlosberg and Rodney Sacks , paid $19.2 million for the purchased assets, according to court documents. Sacks resigned as co-CEO in June ahead of retiring from the company

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