SIOUX FALLS, S.D. (KELO) — An international business whose primary focus in Sioux Falls is pork will merge with a food company known for its beef hot dogs.
Smithfield Foods, based in the U.S. in Virginia, recently announced it had reached an agreement to merge with Nathan’s Famous Inc. A news release said Smithfield will acquire all of Nathan’s issued and outstanding shares for $102 per share in cash for a deal valued at about $450 million.
Smithfield and Nathan’s already have a relationship. Smithfield has had an exclusive license from Nathan’s to manufacture, distribute, market and sell Nathan’s Famous branded hot dogs sausages, corned beef and other specific products, according to the news release…