Smithfield Foods Inc. is buying hot dog brand Nathan’s Famous Inc., Smithfield announced Wednesday.
The deal is valued around $450 million, Smithfield, Virginia-based Smithfield said in a release.
Richmond, Virginia-based GPM Investments started selling the hot dogs in 2024. GPM has more than 25 regional convenience-store brands, including Fas Mart, Li’l Cricket and Scotchman.
Smithfield Foods since March 2014 has held an exclusive license from Jericho, New York-based Nathan’s Famous in 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,” Smith said. The license is scheduled to expire in March 2032.
The closing of the transaction is expected to occur in the first half of 2026, Smithfield said.
Smithfield President and CEO Shane Smith said the 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.”
He added, “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.”
Eric Gatoff, CEO of Nathan’s Famous said, “This combination is a natural fit and provides a compelling valuation for Nathan’s Famous stockholders. As a longtime partner, Smithfield has demonstrated an outstanding commitment to investing in and growing our brand while maintaining the utmost quality and customer service standards.”
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