This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Dive Brief: Smithfield Foods said Monday it would spend up to $1.3 billion over the next three years on a new combined packaged meats and pork processing plant in Sioux Falls, South Dakota. The highly automated facility is set to be "the most modern of its kind in the U.S.," the pork giant said in a statement, and will help deliver "significant efficiency gains" to th ...

Company Overview - Smithfield Foods, the world's largest pork producer, is planning to build a $1.3 billion processing facility in Sioux Falls, South Dakota, which local officials describe as a "once-in-a-generation opportunity" [1] - Founded in 1936, Smithfield has played a significant role in the US pork industry's global growth, acquiring over three dozen companies from the 1980s to the 2000s and accounting for approximately 25% of US pig production [2] Recent Developments - Since CEO Shane Smith took over in 2021, the company has focused on resizing its business and reducing exposure to commodity price fluctuations by decreasing its hog ownership from 17.6 million in 2019 to 11.5 million last year [3] - Smithfield has shifted its focus towards packaged meats, which now represent 59% of sales and offer higher margins compared to traditional pork cuts [3] Financial Performance - Following the spin-off of its European business and subsequent listing on Nasdaq, Smithfield has seen a significant increase in sales and profits, with the latest quarterly operating profit reaching $310 million, a 9% increase year-over-year [3] - The company's shares have risen by 19% over the past 12 months and more than 12% so far this year, reflecting positive investor sentiment [3] Future Prospects - The new Sioux Falls facility, pending regulatory approvals, is expected to create 3,200 jobs and enhance processing capacity beyond the current 20,000 hogs per day [3] - Smithfield is actively promoting pork's versatility to attract younger consumers who are more inclined towards diverse and bold flavors, despite overall US pork consumption remaining relatively flat at around 50 pounds per year since the 1960s [3]

Core Viewpoint - Smithfield Foods, Inc. is initiating the approval process for a new state-of-the-art packaged meats and fresh pork processing facility in Sioux Falls, South Dakota, representing a significant investment in American agriculture [1][4]. Investment Details - The proposed investment is estimated to be up to $1.3 billion over the next three years, contingent on securing necessary permits and regulatory approvals [4]. - The new facility will replace Smithfield's existing plant, which has been operational for over 100 years and currently employs 3,200 people, contributing $200 million in wages annually [1][4]. Facility Features - The new facility will be the most modern of its kind in the U.S., featuring highly efficient process flow, advanced automation technology, and a streamlined design, aimed at enhancing efficiency in fresh pork and high-value packaged meats operations [5]. Community and Economic Impact - The facility is expected to support independent hog farmers, corn and soybean producers, and other agricultural sectors in South Dakota, thereby strengthening the local economy [6]. - Local officials, including South Dakota Governor Larry Rhoden and Sioux Falls Mayor Paul TenHaken, have expressed that this investment will revitalize the downtown area and create significant job opportunities [7]. Timeline - Site work for the new facility is expected to begin in spring 2026, with initial groundbreaking anticipated in the first half of 2027, and production expected to commence by the end of 2028 [7].

Group 1 - The company plans a $1.3 billion investment to create a facility capable of slaughtering approximately 20,000 hogs per day [1] - This investment comes amid scrutiny from officials regarding the firm's connections to China [1]

MONSEY, N.Y., Jan. 27, 2026 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of Nathan’s Famous, Inc. (Nasdaq: NATH) (“NATH”) for $102.00 per share in cash to Smithfield Foods. The sale price is well below NATH’s 52-week high of $118.50 per share, which indicates an opportunistic purchase. If you remain a NATH shareholder and have concerns about the fairness of the sale price, you may contact our firm at the following link to discuss your legal right ...

Group 1 - General Mills sold its Muir Glen brand of organic tomatoes to Violet Foods, allowing the company to focus on its core products and faster-growing segments like snacks and pet food [8] - The divestiture follows General Mills' previous sale of its North American yogurt business, including Yoplait, for $2 billion last year, indicating a strategic shift towards core offerings [8] - Violet Foods aims to enhance its tomato product portfolio by integrating Muir Glen's organic offerings, positioning itself to better serve retail partners in the $5 billion-plus U.S. tomato sauces and canned tomato market [5][8] Group 2 - The current trend in the food industry shows a rapid pace of dealmaking, with companies like B&G Foods and Smithfield Foods also making significant acquisitions [6] - General Mills' decision to sell Muir Glen may be influenced by increased consumer cooking at home, which has led to higher demand for certain brands, allowing for a strategic sale while brand sales are accelerating [4] - Violet Foods has been actively expanding its tomato product presence by acquiring brands from larger consumer packaged goods companies, indicating a trend of consolidation in the industry [5][8]

Core Insights - Private equity firm Brynwood Partners is selling its pizza division, Great Kitchens Food Company, to Rich Products for an undisclosed amount [1] Group 1: Company Overview - Great Kitchens Food Company, formed in late 2020, is a leading U.S. manufacturer of private label take-and-bake pizzas and expanded its offerings in 2023 by acquiring the Uno Foods Division from Uno Restaurant [2] - The company sells private label and branded food products nationally through retail, food service, and e-commerce channels [3] Group 2: Transaction Details - The sale of Great Kitchens is expected to close during the first quarter and is part of an active deal-making period for Brynwood Partners [3] - Brynwood previously divested Harvest Hill Beverage Company for approximately $1.5 billion and acquired Chef Boyardee for $600 million, indicating a strategic focus on food and beverage brands [4] Group 3: Strategic Implications - Rich Products, known for its cookies, donuts, breads, and pizza crusts, aims to enhance its pizza and flatbread platform through the acquisition of Great Kitchens, which will allow for improved capacity and crust innovation [5] - The merger is seen as an opportunity to accelerate innovation and elevate industry standards, according to the leadership of Great Kitchens [6] Group 4: Industry Context - The transaction reflects a broader trend in the food industry where companies and private equity firms are reassessing their assets, with notable recent acquisitions including B&G Foods' purchase of Del Monte Foods' broth brands for $110 million and Smithfield Foods' acquisition of Nathan's Famous for nearly $500 million [6]

Nathan’s Famous, which opened as a 5-cent hot dog stand in Coney Island more than a century ago, has been sold to packaged meat giant Smithfield Foods in an all-cash $450 million deal, the companies announced Wednesday. Smithfield, which has held rights to produce and sell Nathan’s products in the U.S. and Canada and at Sam's Clubs in Mexico since 2014, will acquire all of Nathan's outstanding shares for $102 each. Like almost every food company, Nathan’s has been under significant inflationary pressure. ...

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

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]