CHICAGO--(BUSINESS WIRE)--Whetstone Distribution (“Whetstone” or “the Company”), a platform of exceptional regional food distributors, today announced its acquisition of Fulton Market (“Fulton”), a USDA inspected meat processor, importer and distributor of the finest food companies in the world.
Founded by Joseph Lustman in 1932, Fulton delivers premium quality fresh beef, veal, lamb, pork, poultry and seafood to Chicago’s finest restaurants, hotels, butcher shops and grocery stores and offers custom programs and services. Led by the Lustman family for three generations, Fulton is currently run by President James (Jim) Lustman.
Whetstone’s partnership with Fulton expands the Company’s presence in Chicago and follows its acquisition of Pritzlaff Wholesale Meats in May. Backed by Shore Capital Partners, a private equity firm focused on microcap investments, Whetstone provides the tools, support and strategy needed to create long-term, transformational growth for its regional food distributors.
“We are extremely excited to bring Fulton Market into the fold and continue expanding Whetstone,” said Don McIntyre, CEO of Whetstone. “Fulton’s legacy of quality and service aligns well with our mission to deliver exceptional products and support to our growing customer base. We look forward to continuing to expand our reach in the Chicago market together.”
Through this partnership, Whetstone and Fulton will leverage their combined expertise and resources to grow their distribution capabilities and provide even greater value to their customers.
“I am proud of what we have accomplished over the years at Fulton Market. Our partnership with Whetstone is a great next step in our journey and positions us to continue our tradition of providing the highest quality products and services to our valued customers,” said Jim Lustman, President of Fulton Market.
“This partnership marks a significant moment for both Whetstone and Fulton,” said Jeff Smart, Principal at Shore Capital Partners. “Whetstone has had a presence in Chicago since its formation, and we look forward to continuing to build on our strong foundation and providing exceptional service to local customers with the addition of Fulton Market.”
To learn more, please visit www.whetstonedistribution.com or email info@whetstonedist.com.
About Whetstone Distribution
Whetstone Distribution is a platform of exceptional regional food distributors, delivering sharp service and a wide range of products to independent grocers and restaurants across the Midwest. For more information, please visit: www.whetstonedistribution.com.
About Fulton Market
Fulton Market is one of the fastest growing, direct receivers of fresh proteins & produce, a USDA inspected Meat Processor, Importer and Distributor of the finest food companies in the world, serving restaurants and stores with custom programs and services that save time and money. For more information, please visit: www.fultonmarket-chicago.com.
About Shore Capital Partners
Shore Capital, a Chicago based private equity firm with offices in Nashville and Detroit, is an investor in microcap companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore’s strategy is to support management partners to grow faster with less risk, through access to capital, world class board and operational resources, and unmatched networking, development, and shared learnings across the portfolio. From 2020-2023 Shore received recognition from Inc Magazine as a 4x Top Founder Friendly Investor and by Pitchbook research for being the global leader in Private Equity total deal volume. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow, and significant potential to grow through industry consolidation and organic growth to generate value for shareholders. Shore has over $6 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services. For more information, including with respect to these awards and investment platforms, please visit: www.shorecp.com.
