Smithfield Foods to acquire Nathan's Famous for $102/share in ~$450M cash deal

SMITHFIELD FOODS INC

All-cash consideration of $102.00 per share; enterprise value approximately $450 million.
Valuation of ~12.4x LTM adjusted EBITDA, ~10.0x post-synergies; annual cost synergies of ~$9M by year two.
Smithfield had exclusive license since March 2014; acquisition secures Nathan's Famous brand into perpetuity.
Stockholders representing ~29.9% of outstanding shares have agreed to vote in favor via voting agreement.
Transaction subject to shareholder approval, HSR, CFIUS clearance; expected to close in 2026.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SMITHFIELD FOODS INC entered into Agreement and Plan of Merger with Nathan's Famous, Inc. and Boardwalk Merger Sub Inc. (effective 2026-01-20).

Action: entry
Agreement: merger
Counterparty: Nathan's Famous, Inc. and Boardwalk Merger Sub Inc.
Effective: 2026-01-20

Exact text from the filing

On January 20, 2026, Smithfield Foods, Inc. (“ Smithfield ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Nathan’s Famous, Inc. (“ Nathan’s ”), and Boardwalk Merger Sub Inc., a wholly owned subsidiary of Smithfield (“ Merger Sub ”).

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SMITHFIELD FOODS INC filing history →

Source: SEC EDGAR

accession 0001213900-26-005905

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