Smithfield Foods to buy Nathan’s Famous for $450M

Group 1 - Smithfield Foods is acquiring Nathan's Famous for $450 million in cash, which equates to $102 per share, with the transaction expected to close in the first half of 2026 [8] - The acquisition aims to solidify long-term sales and cash flow for Smithfield, while improving margins in its packaged meat business [3][4] - Smithfield has held an exclusive license to manufacture Nathan's products since 2014, which is set to expire in March 2032 [8] Group 2 - The deal is projected to achieve annual cost synergies of approximately $9 million by the second anniversary of the deal closing [5] - Nathan's Famous recorded $148 million in revenue for its 2024 fiscal year, while Smithfield reported net sales of $14.1 billion [6] - The acquisition will allow Smithfield to expand Nathan's portfolio and enhance customer awareness across its retail and foodservice sales channels [4]