Smithfield Foods entered into a definitive merger agreement to acquire Nathan's Famous, Inc., the iconic all-beef hot dog and packaged food brand. Under the terms of the transaction valued at approximately $450 million, Smithfield agreed to purchase all issued and outstanding shares of Nathan's Famous for cash. This strategic acquisition secures Smithfield's rights to market and sell the legendary brand into perpetuity, expanding its packaged meats portfolio and strengthening its retail and foodservice footprint across global markets.