08:00 AM EST, 01/21/2026 (MT Newswires) -- Smithfield Foods ( SFD ) has agreed to acquire all outstanding shares of Nathan's Famous (NATH) for $102 per share in cash, representing an enterprise value of about $450 million, the companies said Wednesday.

The transaction will be funded with cash on hand and is expected to be immediately accretive to Smithfield's adjusted earnings from continuing operations as well as generate roughly $9 million in annual cost synergies for Smithfield within two years of the deal closing, according to the companies.

Closing of the deal is expected within H1, subject to approval by Nathan's Famous stockholders and other customary conditions, the companies said.

Shares of Smithfield Foods ( SFD ) and Nathan's Famous were up 1.3% and 8.9% respectively in recent Wednesday premarket activity.