Nathan’s Famous acquired by Smithfield, a Chinese-owned company, in a major $450 million transaction: ‘A symbol of American heritage’
Smithfield Foods Acquires Nathan’s Famous in $450 Million Agreement
Smithfield Foods, a Virginia-based company owned by a Chinese parent, announced on Wednesday its acquisition of the renowned hot dog brand Nathan’s Famous for $450 million. The deal values Nathan’s shares at $102 each, representing an almost 10% increase over the brand’s closing price on Tuesday.
Since 2014, Smithfield has exclusively produced and distributed Nathan’s Famous products—including hot dogs, sausages, and corned beef—across the United States, Canada, and Sam’s Club locations in Mexico. This licensing agreement was originally set to run until 2032.
Following the news, Nathan’s Famous stock jumped 8.7%, reaching $100.81 per share.
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