Smithfield agrees to buy Nathan's Famous for $450 million
The pork giant that has made Nathan's hot dogs under license since 2014 is buying the brand outright, and says the July 4 contest will go on.
Smithfield Foods agreed in January to buy Nathan's Famous for $102 a share in cash, a deal worth about $450 million including debt. Nathan's board approved it, and directors holding about 30% of the shares agreed to vote in favor. The companies said they expected to close in the first half of 2026.
Smithfield already had an exclusive license to make and sell Nathan's hot dogs and sausages in the U.S., Canada and Sam's Clubs in Mexico. That license would have expired in March 2032. Buying the company locks in the brand for good.
What it means for July 4th
The contest is the main reason most Americans know the Nathan's name. Smithfield said the Coney Island event, which ESPN carries every year, will continue.
It did. On July 4, Joey Chestnut won his 18th Mustard Belt with 66 hot dogs and buns in 10 minutes, in a heat wave. Patrick Bertoletti was second with 51. Miki Sudo won her 12th straight women's title with 38¾.
The company
Nathan Handwerker opened his hot dog stand at Surf and Stillwell avenues in 1916 with a $300 loan. His family sold the business in 1987. In fiscal 2025, Nathan's reported profit of $24 million on revenue of nearly $150 million.