Smithfield Foods to Buy Nathan's Famous
Smithfield Foods has agreed to acquire hot dog brand Nathan's Famous for $102 a share in a deal with a total enterprise value of $450 million.
Nathan's shares recently were up 7.3% at $99.50 in premarket trading.
Smithfield already has an exclusive license to manufacture, distribute, market and sell Nathan's products through retail, but the license had been set to expire in 2032. Smithfield said the acquisition would help it to grow its packaged meats business, which is its largest segment...
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