Nathan’s Famous Hot Dog Chain Acquired by Smithfield Foods for $450 Million
Competitive eating champion Joey Chestnut discusses his career journey, award-winning hot dog eating strategy and more on ‘The Claman Countdown.’
It looks like a case of wiener take all.
Nathan’s Famous, an iconic American hot dog maker and fast-food chain, has been sold to Smithfield Inc., a Chinese-owned pork producer, in a remarkable $450 million all-cash deal.
The two companies announced the merger in a statement on Tuesday, revealing that Smithfield Foods will acquire all of Nathan’s Famous shares for $102 each.
BEEF PRICES SOAR AS AMERICAN FAMILIES PAY STEEP PRICES FOR STEAKS AND BURGERS NATIONWIDE
“The Nathan’s Famous acquisition is a meaningful step in the progression of Smithfield Foods, allowing us to own all of the top brands in our packaged meats portfolio,” stated Shane Smith, CEO and president of Smithfield Foods.
Smithfield Foods anticipates achieving annual cost synergies of approximately $9 million by the second anniversary of the deal closing.
Joey Chestnut wins the 2025 Nathan’s Famous International Hot Dog Eating Contest by eating 70½ hot dogs at Coney Island July 4, 2025, in New York City. (Bobby Bank/Getty Images)
Smithfield Foods previously held an exclusive license in the U.S., Canada, and Sam’s Clubs in Mexico to manufacture, distribute, market, and sell “Nathan’s Famous” branded hot dogs, sausages, corned beef, and other products. This license, granted in March 2014, was set to expire in March 2032. The acquisition secures Smithfield’s rights to the brand indefinitely.
“This combination is a natural fit and provides compelling valuation for Nathan’s Famous stockholders,” remarked Eric Gatoff, CEO of Nathan’s Famous.
NATHAN’S FAMOUS LAUNCHING PLANT-BASED HOT DOG
“As a long-time partner, Smithfield has demonstrated an outstanding commitment to investing in and growing our brand while maintaining the utmost quality and customer service standards.”
Smithfield Foods is owned by WH Group, a Chinese pork and meat processing company. The group operates through Shuanghui Development, China’s largest meat processing company, and Morliny Foods Holding Limited, a European multinational meat processing company.
The original Nathan’s Famous Hot Dog stand remains in Coney Island, N.Y. (H. Armstrong Roberts/ClassicStock/Getty Images)
WH Group acquired Smithfield in 2013 for $4.7 billion, aiming to tap into the massive supplies of U.S. meats for export to China. Recently, WH Group has been working with banks to take the pork producer public in the U.S. in 2023.
In August 2023, the company permanently closed 35 hog farm sites in Missouri and laid off 92 employees as a result of the closure, according to a Missouri Worker Adjustment and Retraining Notification Act (WARN) notice.
NETFLIX AMENDS WARNER BROS DISCOVERY DEAL TO ALL-CASH OFFER
Nathan’s Famous was founded by Nathan Handwerker in 1916. With a $300 loan, Handwerker opened a hot dog stand on Coney Island, selling hot dogs for just a nickel. Since then, Nathan’s has become an American staple, renowned not only for its hot dogs but also for its annual hot dog eating contest.
The contest takes place outside the chain’s original store at the corner of Surf and Stillwell in Coney Island, Brooklyn, New York.
Employees check packages of ham, produced from imported Smithfield Foods Inc. pork meat, at the WH Group Ltd. facility in Zhengzhou, China, April 13, 2017. (Qilai Shen/Bloomberg via Getty Images / Getty Images)
Top competitive eaters strive to consume as many hot dogs as possible in 10 minutes to win the coveted Mustard Belt, as detailed on the Nathan’s Famous website.
Joey Chestnut remains the reigning champion among men, having devoured 70½ hot dogs. This marked Chestnut’s 17th Mustard Belt win. In the women’s category, Miki Sudo won her 11th Mustard Belt in 2025 by eating 33 hot dogs and buns.
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Smithfield confirmed that the contest, which is broadcast annually on ESPN, will continue.
Fox Business reached out to Smithfield but has not received a response at the time of publication.
Competitive eating champion Joey Chestnut discusses his career journey, award-winning hot dog eating strategy and more on ‘The Claman Countdown.’
It looks like a case of wiener take all.
Nathan’s Famous, an iconic American hot dog maker and fast-food chain, has been sold to Smithfield Inc., a Chinese-owned pork producer, in a remarkable $450 million all-cash deal.
The two companies announced the merger in a statement on Tuesday, revealing that Smithfield Foods will acquire all of Nathan’s Famous shares for $102 each.
BEEF PRICES SOAR AS AMERICAN FAMILIES PAY STEEP PRICES FOR STEAKS AND BURGERS NATIONWIDE
“The Nathan’s Famous acquisition is a meaningful step in the progression of Smithfield Foods, allowing us to own all of the top brands in our packaged meats portfolio,” stated Shane Smith, CEO and president of Smithfield Foods.
Smithfield Foods anticipates achieving annual cost synergies of approximately $9 million by the second anniversary of the deal closing.
Joey Chestnut wins the 2025 Nathan’s Famous International Hot Dog Eating Contest by eating 70½ hot dogs at Coney Island July 4, 2025, in New York City. (Bobby Bank/Getty Images)
Smithfield Foods previously held an exclusive license in the U.S., Canada, and Sam’s Clubs in Mexico to manufacture, distribute, market, and sell “Nathan’s Famous” branded hot dogs, sausages, corned beef, and other products. This license, granted in March 2014, was set to expire in March 2032. The acquisition secures Smithfield’s rights to the brand indefinitely.
“This combination is a natural fit and provides compelling valuation for Nathan’s Famous stockholders,” remarked Eric Gatoff, CEO of Nathan’s Famous.
NATHAN’S FAMOUS LAUNCHING PLANT-BASED HOT DOG
“As a long-time partner, Smithfield has demonstrated an outstanding commitment to investing in and growing our brand while maintaining the utmost quality and customer service standards.”
Smithfield Foods is owned by WH Group, a Chinese pork and meat processing company. The group operates through Shuanghui Development, China’s largest meat processing company, and Morliny Foods Holding Limited, a European multinational meat processing company.
The original Nathan’s Famous Hot Dog stand remains in Coney Island, N.Y. (H. Armstrong Roberts/ClassicStock/Getty Images)
WH Group acquired Smithfield in 2013 for $4.7 billion, aiming to tap into the massive supplies of U.S. meats for export to China. Recently, WH Group has been working with banks to take the pork producer public in the U.S. in 2023.
In August 2023, the company permanently closed 35 hog farm sites in Missouri and laid off 92 employees as a result of the closure, according to a Missouri Worker Adjustment and Retraining Notification Act (WARN) notice.
NETFLIX AMENDS WARNER BROS DISCOVERY DEAL TO ALL-CASH OFFER
Nathan’s Famous was founded by Nathan Handwerker in 1916. With a $300 loan, Handwerker opened a hot dog stand on Coney Island, selling hot dogs for just a nickel. Since then, Nathan’s has become an American staple, renowned not only for its hot dogs but also for its annual hot dog eating contest.
The contest takes place outside the chain’s original store at the corner of Surf and Stillwell in Coney Island, Brooklyn, New York.
Employees check packages of ham, produced from imported Smithfield Foods Inc. pork meat, at the WH Group Ltd. facility in Zhengzhou, China, April 13, 2017. (Qilai Shen/Bloomberg via Getty Images / Getty Images)
Top competitive eaters strive to consume as many hot dogs as possible in 10 minutes to win the coveted Mustard Belt, as detailed on the Nathan’s Famous website.
Joey Chestnut remains the reigning champion among men, having devoured 70½ hot dogs. This marked Chestnut’s 17th Mustard Belt win. In the women’s category, Miki Sudo won her 11th Mustard Belt in 2025 by eating 33 hot dogs and buns.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Smithfield confirmed that the contest, which is broadcast annually on ESPN, will continue.
Fox Business reached out to Smithfield but has not received a response at the time of publication.
