HomeLocal NewsSizzling Sale: Nathan’s Famous Hot Dogs Fetch a Whopping $450 Million

Sizzling Sale: Nathan’s Famous Hot Dogs Fetch a Whopping $450 Million

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Nathan’s Famous, the iconic hot dog brand that began as a humble 5-cent stand in Coney Island over 100 years ago, is changing hands. Smithfield Foods, a major player in the packaged meat industry, has purchased the company in a straightforward cash transaction valued at $450 million, as announced by both companies on Wednesday.

Since 2014, Smithfield has held the rights to manufacture and distribute Nathan’s products across the United States, Canada, and at Sam’s Clubs in Mexico. The latest acquisition deal involves Smithfield buying all outstanding Nathan’s shares at $102 per share.

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