Ontario, California-based Heritage Grocers Group, an ethnic food retailer and the parent company of Cardenas Markets and Tony’s Fresh Markets, has appointed Darren Karst as CFO.
Reporting to CEO Doug Sanders, Karst will oversee the financial and accounting initiatives for all Heritage Grocers Group business units.
As Karst assumes the role of CFO, Matthew Holt will transition to the position of EVP of finance for Heritage Grocers Group and will oversee the financial and accounting integration process across its banners.
“I am excited to welcome Darren to Heritage Grocers Group,” Sanders said.
“Having served as CFO for both private and public companies, he is a proven and seasoned leader who brings extensive retail experience to [Heritage Grocers Group]. His broad background in finance and strategy will be a tremendous asset in achieving current and future business objectives.”
Prior to joining Heritage Grocers Group, Karst served as EVP and CFO for Rite Aid Corporation. He also worked for Roundy’s Inc. where he held the roles of EVP and CFO.
Prior to that, Karst was a partner at the Yucaipa Companies, a private equity investment firm. He also held executive financial positions within several Yucaipa portfolio companies, including Chicago-based Dominick’s Supermarkets, where he served as a director and CFO.
Heritage Grocers Group is a specialty, ethnic food retailer that offers an assortment of traditional and specialty grocery items to the communities it serves. Heritage Grocers Group operates in four states: California, Nevada, Arizona and Illinois, with 57 stores under the Cardenas Markets banner, 21 under the Tony’s Fresh Market banner and seven under the Los Altos Ranch Market banner.
For more information about the grocer, visit heritagegrocersgroup.com.
