Whetstone Distribution, a platform of regional food distributors, is acquiring Fulton Market, a USDA-inspected meat processor, importer and distributor.

Founded by Joseph Lustman in 1932, Fulton delivers premium-quality fresh beef, veal, lamb, pork, poultry and seafood to high-quality Chicago 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 Jim Lustman.

Courtesy of Fulton Market

Whetstone’s partnership with Fulton expands the company’s presence in Chicago and follows its acquisition of Pritzlaff Wholesale Meats in May 2024. Whetstone is backed by Shore Capital Partners, a private equity firm focused on microcap investments.

“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 more 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.

“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.”

Source: Whetstone Distribution