Smithfield Foods to acquire Nathan’s Famous hot dog brand in $450 million deal

Smithfield Foods Inc. will acquire Nathan’s Famous Inc. in an all-cash transaction, valued at $450 million, giving the meat company full ownership of the well-known hot dog brand it has been licensing for more than a decade.

Smithfield has held an exclusive license to manufacture, distribute, market and sell Nathan’s Famous in foodservice and retail channels since March 2014. Acquiring the brand will allow Smithfield to maximize growth across those channels, the company said in a statement.

Shane Smith, president and CEO of Smithfield Foods, said the move is an important step in advancing the company’s packaged meats strategy. He said Smithfield has already invested significantly in Nathan’s Famous under the existing license and plans to leverage its manufacturing scale, marketing resources and channel expertise to further expand the brand.

Smithfield plans to increase foodservice sales volume once it is under the direct management of Smithfield’s team and brought to market through its established, scaled infrastructure.

The transaction is expected to close in the first half of 2026, subject to certain conditions.