Photo: Cititour.com |
An iconic slice of New York history is changing hands. Smithfield Foods has agreed to acquire Nathan’s Famous in an all-cash deal valuing the company at approximately $450 million. For generations of New Yorkers, Nathan’s is inseparable from Coney Island — from the original boardwalk stand to the annual Fourth of July Hot Dog Eating Contest that helped cement its place in the city’s cultural DNA. While the transaction centers on retail and foodservice growth, the brand’s hometown roots remain central to its identity.
Smithfield has been Nathan’s exclusive manufacturer and distributor since 2014, and the acquisition secures those rights permanently, allowing the company to expand the brand while maintaining continuity. Nathan’s leadership emphasized that…..