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Will sale of Nathan’s Famous impact July 4 hot dog eating contest?

Smithfield Foods will maintain Nathan's Fourth of July hot dog contest and aims to capture $9 million in annual cost synergies with the $450 million acquisition.

  • On Wednesday, Smithfield Foods agreed to buy Nathan's Famous for $450 million in cash, or $102 per share.
  • Having held an exclusive license since 2014, Smithfield Foods said the purchase will unlock new growth for its packaged-meats business and expand Nathan's Famous into retail and foodservice channels.
  • Nathan's board of directors, which controls nearly 30% of shares, approved the buyout and recommended shareholders vote; the transaction is expected to close in the first half of 2026 with $9 million annual cost synergies projected.
  • The companies said the Coney Island contest will continue, and Smithfield said the purchase will solidify long-term sales, cash flow and improve margins for its packaged-meat business.
  • Nathan's global footprint of 79,000 sales locations across 21 countries and more than 200 restaurants offers growth potential, with its license set to expire in March 2032, Smithfield said.
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Washington Times broke the news in United States on Wednesday, January 21, 2026.
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