Darren Karst Appointed Chief Financial Officer (CFO) for Heritage Grocers Group

Ontario, California (April 13, 2023) – Heritage Grocers Group (HGG), the parent company of Cardenas Markets and Tony’s Fresh Markets, is pleased to announce the appointment of Darren Karst to the position of Chief Financial Officer (CFO).

Reporting directly to Doug Sanders, Chief Executive Officer for Heritage Grocers Group, Karst will oversee the financial and accounting initiatives for all HGG business units.

As Karst assumes the role of CFO, Matthew Holt will transition to the position of Executive Vice President of Finance for Heritage Grocers Group and will oversee the financial and accounting integration process across HGG 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 HGG. His broad background in finance and strategy will be a tremendous asset in achieving current and future business objectives,” Sanders added.

Prior to joining Heritage Grocers Group, Karst served as Executive Vice President and Chief Financial Officer for Rite Aid Corporation. He also worked for Roundy’s, Inc. where he held the roles of Executive Vice President and Chief Financial Officer. 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 Chief Financial Officer.

Karst earned a bachelor’s degree in business administration and accounting from the University of Kansas.

ABOUT HERITAGE GROCERS GROUP:

Heritage Grocers Group is a specialty, ethnic food retailer that offers an extensive assortment of both traditional and specialty grocery items to the communities it serves. Heritage Grocers Group is headquartered in Ontario, California, and currently operates in 4 states: California, Nevada, Arizona, and Illinois, with a total of 57 stores under the Cardenas Markets banner, 21 stores under the Tony’s Fresh Market banner, and 7 stores under the Los Altos Ranch Market banner.