HERITAGE GROCERS GROUP - Key Persons

Adam Salgado

Job Titles:
  • Chief Marketing Officer / Read Bio
  • Chief Marketing Officer for Heritage Grocer Group
Adam Salgado serves as chief marketing officer for Heritage Grocer Group. In this role he oversees the day-to-day operations of the company's marketing, communications, and customer service departments in addition to e-commerce and loyalty program initiatives.

Darren Karst

Job Titles:
  • Group Chief Financial Officer
  • Appointed Chief Financial Officer ( CFO )
  • Chief Financial Officer / Read Bio
  • Role of Chief Financial Officer ( CFO )
Darren Karst was appointed to the role of chief financial officer (CFO) for Heritage Grocers Group in April of 2023. In this role, he oversees the financial and accounting initiatives for all Heritage Grocers Group banners. Prior to joining Heritage Grocers Group, Darren 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, he was a partner at the Yucaipa Companies, a private equity investment firm. Darren 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. Darren holds a bachelor's degree in business administration and accounting from the University of Kansas. Heritage Grocers Group, 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.

Doug Sanders - CEO, Chairman

Job Titles:
  • Chairman
  • Chief Executive Officer
  • Executive Officer
  • Group Chairman
Doug Sanders is an accomplished chairman and chief executive officer of both private and publicly held companies with a demonstrated track record in successfully leading high growth businesses. He currently serves as the chairman and chief executive officer (CEO) for Heritage Grocers Group, a leadingHispanic and ethnic-focused grocer headquartered in Ontario, California. His extensive career in the grocery industry spans 38-years across multiple and wide-ranging sectors, including supermarket retail, wholesale food distribution, retail technology solutions, natural and organic foods in addition to Hispanic and ethnic-focused specialty formats. Over the past 20 years, Doug has held the role of chairman and CEO for multiple private-equity owned grocery companies, including Sprouts Farmers Market, Cardenas Markets, and Heritage Grocers Group. In 2011, he led the sale of Sprouts Farmers Market to Apollo Global Management, followed by two successful acquisitions and an initial public offering in 2013 (NASDAQ: SFM). In 2022, Doug spearheaded the sale of Cardenas Markets from KKR global investment firm to Apollo Global Management, joining Cardenas Markets and Tony's Fresh Market under the parent company, Heritage Grocers Group.

Eric Stover

Job Titles:
  • Group President
  • Leader
  • President / Read Bio
Eric Stover is an exceptional leader with extensive experience and vision, who currently serves as president for Heritage Grocers Group. In this position, Eric has direct oversight of category management, supply chain, pricing, schematics, marketing, loyalty program efforts, e-commerce, and B2B/wholesale business for all Heritage Grocers Group Banners. In March of 2020, he joined the Cardenas Markets banner bringing more than 30 years of food industry experience to the company. Prior to joining Cardenas Markets Eric held leadership roles in merchandising and operations for several food retailers including Wild Oats, Henry's Farmers Market, and Sprouts Farmers Market. He also held senior roles with wholesale and distribution companies United Natural Foods (UNFI) and KeHE Distributors. Eric is an alumnus of the University of Texas at Arlington where he studied Business Administration and Psychology. He also serves on the board of directors for the Western Association of Food Chains (WAFC), the Cardenas Markets Foundation, and sits on the Food Industry Round Table for Olive Crest.

Leticia Espinoza

Job Titles:
  • Leader
  • Chief Legal & Human Resource Officer / Read Bio

Matthew (Matt) Holt

Job Titles:
  • Chief Accounting Officer / Read Bio
  • Executive Vice President of Finance
Matthew (Matt) Holt serves as executive vice president of finance for Heritage Grocers Group. In this position, he oversees the financial and accounting integration process across all Heritage Grocers Group banners. Before joining the Cardenas Markets banner in 2019, Matt served as a finance executive with over 20 years of progressive experience at Kroger corporate and division offices. At Kroger, he held the roles of internal auditor, operations support system specialist, director of labor management in store operations, budget director, financial reporting manager, and division CFO/controller at QFC then division CFO/controller at Fred Meyer. Matt attended Portland State University where he earned a degree in accounting. He is also a certified public accountant (CPA).

Prabash Coswatte - COO

Job Titles:
  • Group Chief Operating Officer
  • Chief Operating Officer / Read Bio
  • Chief Operating Officer for Heritage Group

Ted Frumkin

Job Titles:
  • President & CEO of TBF Strategic Realty Advisors
  • Senior Vice President of Store Development
  • Senior Vice President, Store Development / Read Bio
Ted Frumkin has served as senior vice president of store development for Heritage Grocers Group since February of 2023. He is an exceptional real estate executive with extensive experience in new store development, project management, procurement, construction, and financial analysis. As president & CEO of TBF Strategic Realty Advisors, Ted has provided real estate guidance to the Cardenas Markets banner since 2020. Prior to joining Heritage Grocers Group, Ted served as group vice president of real estate and construction of North Carolina-based The Fresh Market. He also served as chief development officer for Sprouts Farmers Markets and vice president of real estate for Staples, Inc. Ted also held real estate leadership roles at Rubio's Restaurants, Office Depot, Wal-Mart Stores, and Taco Bell. He holds an M.B.A. with an emphasis in finance from Florida International University in addition to a Bachelor of Fine Arts degree from Texas Christian University.