Smithfield Foods completed its acquisition of Nathan's Famous on 26 October 2026, paying US$102.00 a share in cash for the hot-dog brand in a deal valued at about US$450m when it was agreed in January.
Why Smithfield Foods, Inc. is buying Nathan's Famous, Inc.
Smithfield has made and marketed Nathan's Famous products under licence in retail and foodservice since 2014, with the licence due to expire in 2032. Owning the brand secures those rights permanently; Smithfield said the deal would be accretive and would support growth in its Packaged Meats business, foodservice volumes and operating efficiency.
Deal terms and financing
Each Nathan's share was converted into the right to receive US$102.00 in cash; options were cashed out for their spread and restricted stock units settled at the offer price. Smithfield said the acquisition cost US$441m, including US$18m of transaction costs, and was funded from cash on hand. Nathan's existing credit agreement was repaid and terminated at closing.
Regulatory approvals and timing
The deal required approval from Nathan's shareholders and clearance by the Committee on Foreign Investment in the United States. Smithfield had said the expected closing slipped to the second half of 2026 because a partial government shutdown affected CFIUS statutory deadlines.
Market context
Nathan's has asked Nasdaq to file a Form 25 to delist its shares and intends to file a Form 15 to end its SEC reporting obligations. All ten of its directors stepped down at the effective time.
