Nathan's Famous hot dog brand sells for $450 million

"Nathan's Famous, an iconic American hot dog maker that opened its first store in Coney Island more than a century ago, was sold to a Chinese-based pork producer for $450 million. The all-cash deal was announced in a statement by Nathan's and Smithfield Foods on Wednesday. Smithfield will acquire all of Nathan's Famous shares for $102 each. The company has held the rights to produce Nathan's products in the United States and Canada and at Sam's Club outlets in Mexico since 2014,"

""The Nathan's Famous acquisition is a meaningful step in the progression of Smithfield Foods allowing us to own all of the top brands in our packaged meats portfolio," Shane Smith, Smithfield CEO and president, said in the statement. Smithfield said it believed the deal would create annual savings of $9 million, The Wall Street Journal reported. Added Nathan's CEO Eric Gatoff, the transaction "is a natural fit and provides compelling valuation for Nathan's Famous stockholders.""

"Every July 4, the original Coney Island venue in the New York City borough of Brooklyn hosts its Hot Dog Eating Contest. The first recorded hot dog eating contest was held in 1972, but Nathan's has said it began on an informal basis in the early 20th century. Joey Chestnut, who has won 17 of the last 19 contests, is the reigning champion. He downed 70.5 hot dog and buns in the 2025 event. He holds the record of 76, set in 2021."

Nathan's Famous was sold in an all-cash $450 million transaction to Chinese-based pork producer Smithfield Foods, with Smithfield paying $102 per share. Smithfield already held rights to produce Nathan's products in the United States and Canada and at Sam's Club outlets in Mexico since 2014. Smithfield projects the acquisition will yield annual savings of $9 million. Smithfield's CEO framed the purchase as a step toward owning top packaged meats brands, and Nathan's CEO called the deal a natural fit that provides compelling valuation. Nathan's began as a 1916 Coney Island hot dog cart and continues to host an annual July 4 Hot Dog Eating Contest.

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