Whetstone Distribution, a platform of regional food distributors based in Chicago, Illinois, U.S.A., is acquiring Fulton Market, a meat and seafood processor, importer, and distributor also based in Chicago.
Through the partnership, Whetstone and Fulton will leverage their combined expertise and resources to grow their distribution capabilities, Whetstone said in a press release. The company did not reveal the transaction amount.
“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,” it said.
Founded by Joseph Lustman in 1932, Fulton delivers fresh beef, veal, lamb, pork, poultry, and seafood to Chicago’s restaurants, hotels, butcher shops, and grocery stores, Whetstone said. Fulton will continue to be led by its president, James (Jim) Lustman.
“We are extremely excited to bring Fulton Market into the fold and continue expanding Whetstone,” Whetstone CEO Don McIntyre said. “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.”
The 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,” Lustman said.
Fulton Market is one of the fastest-growing direct U.S. receivers of fresh proteins and produce and a USDA-inspected meat processor, importer, and distributor, according to Whetstone.
Whetstone, which delivers a range of products to independent grocers and restaurants across the U.S. Midwest region, also acquired Pritzlaff Wholesale Meats in May.
Backed by Shore Capital Partners, a private equity firm focused on micro-cap investments, Whetstone “provides the tools, support, and strategy needed to create long-term, transformational growth for its regional food distributors,” the company said.
