In 2011, CD3 Holdings, Inc., a consumer products company, acquired Ronco. Paperwork filed showed that Ronco creditors, the largest of which was Popeil himself, were owed US$32.7 million. On June 14, 2007, Ronco filed Chapter 11 in U.S. attempted to acquire the trademark on the phrase "set it and forget it," used in the commercials for the Showtime Rotisserie Grill (and "Household goods, namely, rotisseries, electric food dehydrators and structural parts therefor, namely, dehydrator trays and screens") on May 5, 2005, but had abandoned the application by J The phrase has gone on to be used in popular culture, and has also been used as a trademark in the sale of many other goods. He continued to develop and market inventions through a successor company, Ron's Enterprises. Fi-Tek VII changed its name to Ronco, and maintained the right of first refusal for Popeil's future inventions. He was expected to continue working with the company as spokesman and product developer, but sold the company in order to have more time with his family. In August 2005, Popeil announced his sale of the company to Fi-Tek VII, a Denver holding company, for $55 million. During the 1970s, Ron Popeil began developing products on his own to sell through Ronco. Products include the Veg-O-Matic and the Popeil Pocket Fisherman, a product manufactured by S.J. In the beginning, the company chiefly sold inventions developed by Popeil's father, Samuel "S.J." Popeil. Ron Popeil was inspired to start the company by the open market hustling he saw on Maxwell Street in Chicago during his youth.
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