Smithfield Foods, Inc., an American food company and an industry leader in value-added packaged meats and fresh pork, and Nathan’s Famous, Inc, announced that they have entered into a definitive merger agreement for Smithfield Foods to acquire all of Nathan’s Famous’ issued and outstanding shares for $102 per share in cash, which represents an enterprise value of approximately $450 million.

Since March 2014, Smithfield Foods has held an exclusive license from Nathan’s Famous within the United States, Canada and Sam’s Clubs in Mexico for Smithfield to manufacture, distribute, market and sell “Nathan’s Famous” branded hot dogs, sausages, corned beef and certain other ancillary products through the retail channel, and to manufacture and distribute “Nathan’s Famous” branded hot dog and sausage products for the foodservice channel. 

Successfully closing the acquisition will secure Smithfield’s rights to this iconic brand into perpetuity and enable it to maximize the Nathan’s Famous brand growth across the retail and foodservice channels.

“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 and unlock new growth opportunities for our largest segment,” said Smithfield President and CEO, Shane Smith. “Since entering into our licensing agreement in 2014, we have made significant investments to build and grow the Nathan’s Famous brand. With our manufacturing scale, marketing strength, product innovation capabilities, and retail and foodservice channel expertise, acquiring Nathan’s Famous will allow us to take the brand to new heights.”

About Smithfield Foods
Smithfield Foods, Inc. (Nasdaq: SFD) is an American food company with a leading position in packaged meats and fresh pork products. With a diverse brand portfolio and strong relationships with U.S. farmers and customers, we responsibly meet demand for quality protein around the world.