Rite Aid’s Thrifty ice cream brand gets sold to a business entity linked to Monster Energy executives

Rite Aid has selected a successful bidder for its Thrifty Payless subsidiary, which includes the beloved Thrifty ice cream brand, according to a bankruptcy court filing on Thursday.

The buyer was identified as Hilrod Holdings, a limited partnership linked to Hilton Schlosberg and Rodney Sacks, top executives at the energy drink company Monster Beverage Corporation. Hilrod is seeking to pay $19.2 million for Thrifty’s assets, the filing revealed. The partnership is mostly known for its...