Iconic hot dog maker Nathan’s Famous sells for $450 million in all-cash deal
After a century in business, iconic hot dog brand sold
- Smithfield Foods, a packaged meat giant, has agreed to acquire Nathan's Famous, the iconic hot dog brand, in an all-cash deal valued at $450 million.
- Under the terms of the agreement, Smithfield will purchase all outstanding shares of Nathan's for $102 each.
- The acquisition is expected to be finalised in the first half of 2026, following approval from Nathan's board of directors and shareholders.
- Nathan's shares surged by nearly 9% in midday trading after the announcement, reaching $100.81 per share.
- Smithfield, which has produced and sold Nathan's products since 2014, anticipates annual savings of approximately $9 million within two years of completing the deal.