The Martha's Vineyard Times Big plans, same ice cream at Mad Marthaâs 50-year-old business changes hands; will offer flavors both familiar and new. Mad Martha's is under new ownership. A group of investors and Island businessmen are the new owners of the three Mad Marthaâs 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. Katzenâs role in the purchase was first reported by The Times in April.