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.
12 Articles
12 Articles
Nathan's Famous Acquired in $450 Million Deal
Smithfield Foods has agreed to acquire Nathan’s Famous Inc. in an all-cash deal valued at approximately $450 million, with the transaction announced on Jan. 21, 2026. Under the terms, Smithfield will purchase all outstanding shares of Nathan’s Famous common stock for $102 per share. The acquisition secures Smithfield’s rights to produce, sell, and market the Nathan’s Famous all-beef hot dog brand in perpetuity across retail and foodservice chann…
Smithfield buys Nathan's Famous hot dog maker
Nathan's Famous, which opened as a 5-cent hot dog stand in Coney Island more than a century ago, has been sold to packaged meat giant Smithfield Foods in an all-cash $450 million deal, the companies say.
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