Iconic Coney Island hot dog maker Nathan's Famous is sold for $450 million

MATT OTT

Wed, January 21, 2026 astatine 11:04 AM CST 1 min read

Nathan’s Famous, which opened arsenic 5-cent blistery canine basal successful Coney Island much than a period ago, has been sold to packaged nutrient elephantine Smithfield Foods successful a $450 cardinal all-cash deal, the companies announced Wednesday.

Smithfield, which has held rights to nutrient and merchantability Nathan’s products successful the U.S., Canada and astatine Sam's Clubs successful Mexico since 2014, volition get each of Nathan's outstanding shares for $102 each. The transaction is expected to adjacent successful the archetypal fractional of 2026.

Smithfield jumped astir 9% higher successful midday trading, to $100.81 a share.

Smithfield said it expects to execute yearly savings astir $9 cardinal wrong 2 years of closing the deal.

“As a long-time partner, Smithfield has demonstrated an outstanding committedness to investing successful and increasing our marque portion maintaining the utmost prime and lawsuit work standards,” said Nathan's CEO Eric Gatoff.

Nathan's committee of directors, which ain oregon power astir 30% of the outstanding shares of Nathan’s Famous communal stock, approved the buyout and agreed to urge to its shareholders to ballot successful favour of the deal.

Smithfield, which besides owns the Gwaltney bacon and Armour frozen nutrient brands, rang up much than a cardinal dollars successful operating nett successful 2024 connected income of $14.1 billion. It's connected way to eclipse some those figures erstwhile it reports its fourth-quarter results.

Smithfield shares were unchanged successful midday trading Wednesday astatine $23.39.

In fiscal 2025, Nathan’s reported nett of $24 cardinal connected gross approaching $150 million.