Latest news with #HiltonSchlosberg
Yahoo
11-08-2025
- Business
- Yahoo
Monster Beverage achieves 'record' quarterly net sales
Monster Beverage Corp. says it has booked 'record' quarterly net sales in its second quarter, reaching just above $2bn. The US-based company, known for its Monster energy drinks, reported a net sales increase of 11.1% to $2.11bn in its second quarter of 2025 compared to the same period last year. In a statement containing its results for the period ended 30 June, Hilton Schlosberg, CEO of Monster Beverage, said: We achieved record net sales for the second quarter, exceeding the $2bn mark for the first time, underscoring the strength of our brands, talent of our team, and continued appeal of our products around the world. "The quarter's performance also reflects the success of our product innovations, which are resonating strongly with consumers." The performance also 'reflects the success of our product innovations, which are resonating strongly with consumers', Schlosberg added. In its second quarter, the Monster Energy Drinks segment, which includes Monster Energy drinks, Reign Total Body Fuel, and Bang Energy drinks, saw net sales rise 11.2% to $1.94bn. Monster Beverage's Strategic Brands segment, which holds energy-drink brands acquired from The Coca-Cola Co featuring brands such as Predator and Fury, saw net sales increase 18.9% to $129.9m. The group's Alcohol Brands division, however didn't see the same growth. The unit, which includes products like The Beast Hard Tea, witnessed a 8.6% decline in net sales in the second quarter, to $38m. Monster Beverage recorded impairment charges on its alcohol business its fourth quarter of 2024. Speaking to analysts on a call in March, the company's former co-CEO Rodney Sacks, said: 'The impairment charges were primarily the result of operating and financial performance not meeting projections due in part to challenges in the category, as well as the decrease in projected ongoing operating and financial performance.' Monster Beverage's operating income in its second quarter of 2025 rose 19.8% to $631.6m. Net income for the period climbed 14.9% to $488.8m. Commenting on its second quarter and six month results for 2025, Schlosberg added: 'Increased household penetration and per capita consumption of energy drinks remain positive trends for the category. Our robust pipeline of innovative products remains central to our long-term growth strategy.'. For the six months ending 30 June 2025, the company's net sales increased 4.4% to $3.97bn. Operating income for this period reached $1.2bn, while net income grew by 7.4% to $931.8m. "Monster Beverage achieves 'record' quarterly net sales " was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
San Francisco Chronicle
10-08-2025
- Business
- San Francisco Chronicle
Thrifty Ice Cream is making a comeback after Rite Aid's collapse
Thrifty Ice Cream, the beloved West Coast brand known for its flat-topped scoops and pharmacy-counter nostalgia, is staging a comeback after months of uncertainty tied to Rite Aid's bankruptcy and nationwide store closures. The brand was acquired in July for $19.2 million by Hilrod Holdings, a family office linked to Monster Beverage Corp. executives Hilton Schlosberg and Rodney Sacks. The sale followed Rite Aid's Chapter 11 bankruptcy filing in May and its announcement that 500 stores — many of which housed Thrifty counters — would be shut down. Late last week, Thrifty's new owners unveiled plans to relaunch the ice cream brand with updated packaging, new flavors and broader retail distribution. Despite the refresh, they emphasized that Thrifty's original recipes, textures and signature scoop style will remain untouched. 'While the heart of Thrifty remains the same, the future is full of opportunity,' the company said in a statement. 'We're exploring new locations, expanding our reach, and looking at ways to make it easier than ever to bring Thrifty into your home.'
Miami Herald
02-07-2025
- Business
- Miami Herald
Popular Dairy Queen rival franchisee files Chapter 11 bankruptcy
The ice cream retail sector has faced economic challenges over the last year that included a major chain closing down and selling off its assets, another shutting down in a corporate dispute, and several others filing for bankruptcy protection. Bankrupt drugstore chain Rite Aid is liquidating its assets, which includes a sale of its Thrifty Ice Cream brand for $19.2 million to Hilrod Holdings LP, whose general partner, Hilton Schlosberg, is also co-founder and CEO of Monster Beverage Corporation. Don't miss the move: Subscribe to TheStreet's free daily newsletter Rite Aid had operated about 500 Thrifty Ice Cream counters in its stores and sold its private label Thrifty brand in over 2,300 grocery stores and chain stores across the U.S. Related: Another national employment company files Chapter 11 bankruptcy In the first half of 2025, a franchisee of a popular ice cream fast-food chain, Dairy Queen, shut down about 30 locations in Texas over a dispute with the parent company. Parent company American Dairy Queen pulled the franchises from franchisee Project Lonestar after it failed to remodel its locations. That meant that those locations could not order supplies from the parent corporation and would have to shut down. "These closures are related to closures last month by the same franchise owner," a Dairy Queen spokesperson said of the closings. "The closures are an isolated event, and we refrain from publicly sharing contract terms." The dispute prevented Lonestar from selling its franchise locations, which forced it to close the Dairy Queens that it operated. Greene Family Enterprises LLC, which owns a St. Johns, Fla.-based Rita's Italian Ice franchise, filed for Chapter 11 bankruptcy protection, seeking to restructure its debts. The Rita's Italian Ice franchise filed its Subchapter V petition on June 9 in the U.S. Bankruptcy Court for the Middle District of Florida, listing $100,000 to $500,000 in assets and $500,000 to $1 million in liabilities, including $362,000 owed to Cadence Bank, $64,000 in unpaid taxes owed to the Florida Department of Revenue, and a $43,000 claim by Headway Capital. And now, another Rita's franchisee is heading for bankruptcy court. Image source: Hammerschmidt/picture alliance via Getty Images Frozen treat chain franchisee Armellino Italian Ices Corp., which operates a Rita's Italian Ice franchise in Tuscaloosa, Ala., filed for Chapter 11 bankruptcy, seeking to reorganize its business. Related: Largest fast-food chain's franchisee files for Chapter 11 bankruptcy The debtor also operates a PJ's Coffee franchise in Tuscaloosa that is part of the bankruptcy. The debtor filed its petition in the U.S. Bankruptcy Court for the Northern District of Alabama on July 1, listing $100,000 to $500,000 in assets and $500,000 to $1 million in liabilities. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy Armellino Italian Ices indicated in its petition that no funds would be available for distribution to unsecured creditors after administrative expenses are paid. Rita's Italian Ice, founded in 1984 in Bensalem, Pa., is a specialty dessert shop selling Italian ice, frozen custard, Gelati, Italian Ice Blenders, Gelati Blenders, milkshakes, and take-home treats, such as custard cookie sandwiches and custard pints. Rita's, which claims to be the world's largest Italian Ice franchise in the world, had been owned by parent company Argosy Private Equity from December 2016 until Nov. 26, 2024, when it exited its investment in Rita's Franchise Company LLC. The Trevose, Pa., company revealed on Jan. 9, 2025, that private equity firm Maple Park Capital Partners purchased a majority interest in Rita's Italian Ice & Frozen Custard. The Italian Ice and frozen custard chain has 592 locations in 29 states and the District of Columbia, according to its website. PJ's has 192 locations in 14 states, with over 300 locations in development, according to the company's website. Related: Popular vision care chain files for Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
29-06-2025
- Business
- Yahoo
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. He was buried in a mushroom casket. Soon he'll be part of the soil CEO of an $11 billion builder empire warns that these housing markets face a short-term oversupply Lifting the veil on the critical—and oft-times overlooked—factors driving AI growth 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 real estate investments Thrifty ice cream is available at scoop counters located inside many Rite Aid locations in addition to being sold by third-party retailers. It was not immediately clear what Hilrod plans to do with Thrifty should the sale be approved by the court. A hearing on the matter is scheduled for June 30. Fast Company reached out to a lawyer for Hilrod Holdings, and representatives for Monster Beverage and Rite Aid for comment. We will update this story if we hear back. Schlosberg and Sacks had until recently been co-CEOs of Monster Beverage. A filing with the Securities and Exchange Commission (SEC) revealed that Sacks planned to retire this month, while Schlosberg would continue to lead the company. The fate of Thrifty ice cream has been uncertain since Rite Aid announced in early May that it would see Chapter 11 bankruptcy protection for a second time. The embattled pharmacy chain is winding down its operations, closing or selling its physical stores, and has sold off most of its prescription files to competitors, including CVS and Walgreens. The Thrifty brand stretches back decades in Los Angeles, where it was sold at soda fountain counters inside the Thrifty Drug Store chain. It became part of Rite Aid through Rite Aid's purchase of Thrifty Payless in 1996. This story is developing and could be updated. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
29-06-2025
- Business
- Miami Herald
Bankrupt ice cream chain sold to popular beverage owners
Retailers often cite economic challenges, including rising costs of labor and products driven by inflation and increased interest rates on debt obligations, as well as retail theft, as reasons for closing store locations, filing for bankruptcy, selling assets, and sometimes closing down their businesses. Several iconic retail chains have closed hundreds of stores over the last year, with some filing for bankruptcy and others going out of business. Don't miss the move: Subscribe to TheStreet's free daily newsletter Beloved party retailer Party City filed for Chapter 11 bankruptcy protection for the second time in December 2024, about 14 months after exiting its first bankruptcy. Related: Largest fast-food chain's franchisee files for Chapter 11 bankruptcy The retail chain has closed all but 26 remaining locations across the country, according to its website. Forever 21 in March 2025 filed for Chapter 11 bankruptcy, shut down all of its stores, liquidated, and ceased its business in May 2025. Joann Fabrics filed its second Chapter 11 bankruptcy in January 2025 and closed all of its stores and went out of business, also in May. Home goods retailer At Home filed for Chapter 11 bankruptcy on June 16 in the U.S. Bankruptcy Court for the District of Delaware, citing unsustainable costs due to tariffs and a slowdown in consumer spending. The retailer asserted that it will close 26 underperforming stores by Sept. 30. Major drugstore chain Rite Aid filed for Chapter 11 bankruptcy for the first time on Oct. 15, 2023, and closed about 800 of its 2,100 stores as part of a reorganization plan. The retail chain filed for Chapter 11 protection a second time on May 5, 2025, as New Rite Aid LLC, and has begun closing hundreds of its remaining stores. Rite Aid filed for its second bankruptcy after failing to find a buyer for its assets and being unable to secure financing to continue operating. The retail chain has filed eight notices of additional store closing locations with the U.S. Bankruptcy Court for the District of New Jersey, designating 947 of its nearly 1,240 locations for closing. As part of its bankruptcy case, Rite Aid is selling its Thrifty Ice Cream brand for $19.2 million to Hilrod Holdings LP, whose general partner, Hilton Schlosberg, is also co-founder and CEO of Monster Beverage Corporation. Related: Popular vision care chain files for Chapter 11 bankruptcy The debtor filed a notice of successful bidders in the U.S. Bankruptcy Court for the District of New Jersey on June 26, after Hilrod Holdings prevailed at an auction for the Thrifty Ice Cream assets held on June 24. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy The notice asserted that Hilrod would pay a $4 million deposit on June 26 and pay the remainder of the sale price of $15.2 million by July 2. Optimal Investment Group Inc. was named the back-up bidder for the Thrifty assets at the auction with a bid of $19.126 million to purchase the ice cream brand if Hilrod's acquisition falls through. A sale hearing will be held on June 30 to approve the sale transaction. Objections to the sale were due by 5 p.m. Eastern time on June 27. The notice calls for a sale closing date of July 22, 2025, or a date agreed to in writing by the buyer and seller. Related: Major shipping company files for Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
