{"id":14416,"date":"2026-01-21T19:12:18","date_gmt":"2026-01-21T19:12:18","guid":{"rendered":"https:\/\/microvibenews.com\/?p=14416"},"modified":"2026-01-21T19:12:18","modified_gmt":"2026-01-21T19:12:18","slug":"nathans-famous-goes-from-5-cent-hot-dog-stand-in-coney-island-to-450-million-acquisition-by-smithfield-foods-over-100-years-later","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=14416","title":{"rendered":"Nathan\u2019s Famous goes from 5-cent hot dog stand in Coney Island to $450 million acquisition by Smithfield Foods over 100 years later"},"content":{"rendered":"

<\/p>\n

Nathan\u2019s 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 a $450 million all-cash deal, the companies announced Wednesday.<\/p>\n

Smithfield, which has held rights to produce and sell Nathan\u2019s products in the U.S., Canada and at Sam’s Clubs in Mexico since 2014, will acquire all of Nathan’s outstanding shares for $102 each. The transaction is expected to close in the first half of 2026.<\/p>\n

Smithfield said it expects to achieve annual savings of about $9 million within two years of closing the deal.<\/p>\n

\u201cAs a long-time partner, Smithfield has demonstrated an outstanding commitment to investing in and growing our brand while maintaining the utmost quality and customer service standards,\u201d said Nathan’s CEO Eric Gatoff.<\/p>\n

Nathan’s board of directors, which own or control nearly 30% of the outstanding shares of Nathan\u2019s Famous common stock, approved the buyout and agreed to recommend to its shareholders to vote in favor of the deal.<\/p>\n

Smithfield, which also owns the Gwaltney bacon and Armour frozen meat brands, rang up more than $1 billion in operating profit in 2024 on sales of $14.1 billion. It’s on track to eclipse both those figures when it reports its fourth-quarter results.<\/p>\n

Smithfield shares were unchanged in midday trading Wednesday at $23.39.<\/p>\n

In fiscal 2025, Nathan\u2019s reported profit of $24 million on revenue approaching $150 million.<\/p>\n

This story was originally featured on Fortune.com<\/p>\n

#Nathans #Famous #5cent #hot #dog #stand #Coney #Island #million #acquisition #Smithfield #Foods #years<\/p>\n","protected":false},"excerpt":{"rendered":"

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