In the current economic environment, interest rates can make borrowing money expensive. Many corporate acquisitions require the buyer to take on new loans, which adds interest payments that eat into future profits. Smithfield’s ability to finance this deal without issuing new debt is a significant sign of balance sheet strength. The company ended the third quarter of fiscal 2025 with over $3 billion in available funds. Furthermore, its leverage ratio sits at a healthy 0.8x net debt to adjusted EBITDA, indic ...

For New Yorkers who visit the Coney Island boardwalk every summer, there is one spot they almost always stop at after hours of walking and riding amusement park rides under the hot sun. The place is nothing fancy, just a simple yellow-and-red storefront with green-and-white striped awnings and a huge white-and-green sign, but the smell of sizzling hot dogs is enough to draw millions of families in, turning it into an unmissable tradition for many. Founded in 1916, few could have predicted that what bega ...

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF†) are investigating the proposed sale of Nathan's Famous, Inc. (NasdaqGS: NATH) to Smithfield Foods, Inc. (NasdaqGS: SFD). Under the terms of the proposed transaction, shareholders of Nathan's will receive $102.00 in cash for each share of Nathan's that they own. KSF is seeking to determine whether this consideration and the process that l. ...

Group 1 - The pork processor is acquiring Nathan's Famous, a hot dog manufacturer, in an all-cash transaction valued at $450 million [1]

Core Viewpoint - U.S. pork processor Smithfield Foods is acquiring Nathan's Famous for $450 million, enhancing its brand portfolio with a well-known hot dog brand [1] Company Summary - Smithfield Foods is a major player in the U.S. pork processing industry, known for its diverse range of meat products [1] - Nathan's Famous is a century-old brand recognized for its iconic hot dogs, which will now be part of Smithfield's offerings [1] Financial Summary - The acquisition deal is valued at $450 million, indicating a significant investment by Smithfield Foods to expand its market presence [1]

Group 1 - Smithfield Foods has agreed to acquire Nathan's Famous for $102 per share, indicating a strong valuation for the hot dog brand [1] - The total enterprise value of the acquisition is reported to be $450 million, reflecting the strategic importance of the deal for Smithfield Foods [1]

Core Insights - Barry Callebaut has appointed Hein Schumacher, the former CEO of Unilever, as its new CEO amid weaker-than-expected financial results [1] Group 1: Leadership Changes - The appointment of Hein Schumacher is a strategic move for Barry Callebaut, indicating a shift in leadership to navigate current challenges [1] Group 2: Financial Performance - The company reported financial results that fell short of expectations, highlighting potential operational or market challenges [1]

Core Viewpoint - Smithfield Foods has announced a definitive merger agreement to acquire Nathan's Famous for $102.00 per share, totaling an enterprise value of approximately $450 million, which is expected to enhance Smithfield's brand portfolio and growth opportunities in the packaged meats segment [1][4][6]. Group 1: Acquisition Details - Smithfield Foods will acquire all issued and outstanding shares of Nathan's Famous in an all-cash transaction valued at $102.00 per share [6]. - The transaction is expected to close in the first half of 2026, pending approval from Nathan's Famous shareholders and other customary conditions [7][9]. - The acquisition will be funded by cash on hand and is not subject to a financing contingency [7]. Group 2: Strategic Implications - The acquisition will secure Smithfield's rights to the Nathan's Famous brand indefinitely, allowing for maximized growth across retail and foodservice channels [3][8]. - Smithfield anticipates achieving annual cost synergies of approximately $9 million by the second anniversary of the deal closing [4][8]. - The transaction represents a valuation of approximately 12.4 times Nathan's Famous's last twelve months adjusted EBITDA and about 10.0 times post-synergies [4]. Group 3: Management Perspectives - Smithfield's President and CEO, Shane Smith, emphasized that the acquisition is a significant step in owning top brands within their packaged meats portfolio and unlocking new growth opportunities [4]. - Nathan's Famous CEO, Eric Gatoff, stated that the merger is a natural fit and offers a compelling valuation for shareholders, highlighting Smithfield's commitment to the brand [5]. Group 4: Financial Overview - Nathan's Famous reported an adjusted EBITDA of $36.386 million for the twelve months ended September 28, 2025, indicating a strong financial position prior to the acquisition [28]. - The acquisition is expected to be immediately accretive to Smithfield's adjusted diluted earnings per share from continuing operations [5]. Group 5: Regulatory and Approval Process - The merger agreement requires approval from Nathan's Famous shareholders, with members owning approximately 29.9% of the shares already agreeing to vote in favor of the transaction [10]. - The transaction is subject to regulatory approvals, including antitrust considerations and other customary closing conditions [9].

Core Viewpoint - Smithfield Foods has announced a definitive merger agreement to acquire Nathan's Famous for $102.00 per share, totaling an enterprise value of approximately $450 million, which will enhance Smithfield's portfolio in the packaged meats sector [1][6]. Group 1: Acquisition Details - The acquisition will secure Smithfield's rights to the Nathan's Famous brand indefinitely, allowing for maximized growth across retail and foodservice channels [3][7]. - The transaction is valued at approximately 12.4 times Nathan's Famous's last twelve months (LTM) adjusted EBITDA and about 10.0 times post-synergies [4]. - Smithfield anticipates achieving annual cost synergies of around $9 million by the second anniversary of the deal closing [4][8]. Group 2: Strategic Implications - The acquisition is expected to be immediately accretive to Smithfield's adjusted diluted earnings per share from continuing operations [5]. - It will enhance Smithfield's ability to grow the high-margin Packaged Meats segment by leveraging the Nathan's Famous brand and expanding its product portfolio [8]. - The deal will also improve operating efficiencies and increase foodservice sales volume by utilizing Smithfield's established infrastructure [8]. Group 3: Transaction Timeline and Conditions - The transaction is expected to close in the first half of 2026, pending approval from Nathan's Famous stockholders and regulatory bodies [9]. - The Board of Directors of Nathan's Famous has approved the merger agreement and will recommend stockholders vote in favor of the transaction [6][10].

Core Insights - Eckrich, as the Official Smoked Sausage and Deli Meat Sponsor of the College Football Playoff, has contributed significantly to educational initiatives through the Eckrich $1 Million Challenge for Teachers, unlocking $600,000 for educators nationwide [1][2] Group 1: Contributions to Education - Since the inception of the Eckrich $1 Million Challenge for Teachers, the brand has donated a total of $3.5 million to support educators [2] - The program allows nominated teachers to participate in a 15-yard throw challenge during college games, with the potential to win up to $1 million for their schools [4] - Although there was no winning throw this season, Eckrich provided $2,500 to support local education initiatives at each of the four games, totaling $10,000 in donations [5] Group 2: Recognition and Support for Educators - Eckrich honored Sarah Damato, a special education teacher from Pennsylvania, as the Eckrich Teacher of the Year, awarding her a trip to the 2026 CFP National Championship weekend and $5,000 for classroom projects [8] - The partnership with the CFP Foundation has been crucial in empowering teachers and enhancing educational outcomes, as noted by both Marty Smith and Britton Banowsky [7] Group 3: Additional Initiatives - Eckrich supported the Extra Yard Makeover program by donating $250,000 to five schools to revitalize central learning spaces [7] - The brand's mobile tour included visits to four schools, further promoting its commitment to education [4]