Heritage Grocers Group promoted Eric Stover to president and named Prabash Coswatte chief operating officer, the ethnic food retailer announced Tuesday.
Stover previously served as CEO of the company’s largest banner, Cardenas Markets, and Coswatte was chief administrative officer for Heritage.
“The promotions of Eric and Prabash further aligns and unifies the organizational structure of Heritage Grocers Group,” CEO Doug Sanders said in a statement. “They are exceptional leaders whose extensive experience and expertise will be instrumental in executing our growth strategy, as well as deepening the HGG connection to communities and serving the local customer.”
Heritage Grocers Group was formed in 2022 and has since purchased four Hispanic grocery chains that operate in California, Texas, Nevada, Arizona, Kansas and Illinois—that includes 57 Cardenas Markets stores, 28 El Rancho Supermercado stores, 21 Tony’s Fresh Market stores and seven under the Los Altos Ranch Market banner.
Coswatte said during a presentation at the 2023 Groceryshop convention in Las Vegas in September that Heritage Grocers Group, which is owned by Apollo Global Management through the investment firm’s Apollo Funds, has grown from $700 million to $3 billion in annual revenue in a little over a year.
Heritage also plans to open two new Cardenas locations by the end of 2023.
In his new role, Stover will oversee Heritage Grocers Group’s category management, supply chain, pricing, schematics, marketing, loyalty program efforts, e-commerce and B2B/wholesale business. He currently serves on the board of directors for both the Cardenas Markets Foundation and the Western Association of Food Chains. He also serves on the Food Industry Round Table for Olive Crest.
He joined Cardenas Markets in 2020 as chief merchandising officer and previously served in leadership positions at United Natural Foods, KeHE Distributors, Wild Oats, Henry’s Farmers Market and Sprouts Farmers Market.
In Coswatte’s new role, he will oversee store operations, information technology, continuous improvement, data integrity, loss prevention, internal audits, construction and facilities maintenance, for all of the Heritage banners.
Coswatte serves on the board of directors for the Cardenas Markets Foundation. He joined Cardenas Markets as chief information officer in 2019. Prior to that position, he was chief information officer for Vallarta Supermarkets, vice president of enterprise program management for 99 Cents Only Stores, senior project manager for Cabridge Associates LLC and senior consultant for Deloitte Consulting.