Smithfield Foods Acquires Nathan's Famous in All-Cash Deal, Boosting Earnings Growth and Dividend Payout

Smithfield Foods has agreed to acquire Nathan's Famous for $102 per share in an all-cash transaction, valuing the enterprise at approximately $450 million. The deal is funded entirely with cash on hand, with Smithfield ending Q3 2025 with over $3 billion in available funds and a healthy leverage ratio of 0.8x net debt to adjusted EBITDA. The acquisition is expected to be immediately accretive to Smithfield's adjusted EPS and support its dividend payout by securing reliable future cash flows.