Smithfield to Buy 110-Year-Old Hot Dog Maker Nathan’s Famous (1)

Smithfield Foods Inc. said it would acquire legendary hot dog brand Nathan’s Famous in a deal valued at about $450 million, securing the rights to a key product in its business’s largest segment.

The Virginia-based pork processor already held an exclusive license to make and sell Nathan’s Famous products in the US and Canada, as well as Sam’s Clubs in Mexico. That agreement for retail and food service channels expires in 2032. The acquisition “will secure Smithfield’s rights to this iconic brand into perpetuity,” the company said in a Wednesday statement.

Nathan’s hot dogs at a grocery store in New York in 2023.

Photographer: Victor J. Blue/Bloomberg

The purchase connects a New York ...