Big plans, same ice cream at Mad Martha’s 

A group of investors and Island businessmen are the new owners of the three Mad Martha’s Ice Cream stores, purchasing the 50-year-old frozen novelty business and buildings for a total of $8.2 million.

The buyers are led by Brook Katzen, owner of Little House Cafe and Island Cove Adventures mini golf, and Jim Shane, a real estate developer and Edgartown resident. Katzen and Shane will work as business co-managers, with Katzen conducting general operations. Katzen’s role in the purchase was first reported by The Times in April.

The three properties were listed for $10.5 million in November. The sale closed on May 13.

According to real estate records, Mad Martha’s Vineyard Haven store on Main Street sold for $2.1 million, the Edgartown store on North Water Street sold for $2 million, and the Oak Bluffs store on Circuit Avenue sold for $1.9 million. Jared Bicknell of Feiner Real Estate, who was the listing agent, told the Times the rights to the business were also sold for $2.2 million, for a total of $8.2 million.

Speaking to The Times by phone Tuesday, Katzen said the group was interested in continuing to operate the longtime business as well as invest in the real estate. “We were uniquely positioned to be successful here,” Katzen said. 

Mad Martha’s signature ice cream and recipes won’t be going anywhere. Katzen said he plans to add to the business, and possibly expand. Customers can expect some new flavors to join the menu such as dairy-free, as well as collaborations with Island businesses such as a Back Door Donuts apple fritter flavor coming out this week, and a Chilmark Coffee ice cream in the future, to name a few.

“We’re going to refresh the brand, just a slightly refreshed feel to the brand name,” he said. “We’re going to build out the website and use social media.”

Other plans include a partnership with the Martha’s Vineyard Sharks, making Mad Martha’s the official ice cream of the baseball team. Katzen said the group is also looking at possible expansions up-Island and on the Cape.

The Edgartown and Oak Bluffs stores are both open, and Vineyard Haven is expected to open its doors in early June.

Katzen said he understood that when Island businesses go up for sale, there is sometimes worry that things will change, but he stressed that wasn’t happening with Mad Martha’s: “When you have something as great as Mad Martha’s, it makes sense to change as little as possible and keep it going.”