Chinese-owned Smithfield Foods buys iconic Nathan’s Famous in $450 million deal

NEW YORK, NY – Nathan’s Famous, the 108-year-old Coney Island hot dog brand synonymous with classic American food culture, has been sold to Smithfield Foods, the U.S. meat-processing giant owned by Hong Kong-based WH Group. The $450 million all-cash deal gives Smithfield full control of Nathan’s, one of the most recognizable names in American dining.

The acquisition, announced Wednesday, values Nathan’s at $102 per share and integrates the brand’s royalty-driven, franchise-heavy business model with Smithfield’s expansive U.S. meat production and distribution network. Smithfield has long produced Nathan’s hot ...