The Century-Old Coney Island Icon Nathan’s Famous Just Sold For A Whopping $450M

It might be a bit too soon to take a stroll on the Coney Island Boardwalk — especially considering the **weekend blizzard** heading our way — but we’re already thinking about **hot dogs**. On Wednesday, January 21st, Nathan’s Famous Hot Dogs , the Brooklyn staple that has been operating since 1916 and hosting many a hot dog-eating contest, has just sold for a staggering $450 million — you know, what **Joey Chestnut** likely spends on the bbq treat in a year. (We kid!) We always knew the Surf Avenue spot was worth the big bucks. Nathan’s Famous sells for $450 million -------------------------------------- Smithfield, a Virginia-based food processor, scooped up the Surf Avenue spot. Since 2014, the brand has held an exclusive license to manufacture and sell Nathan’s Famous goods in the US and Canada and at Sam’s Club stores in Mexico. Although that deal was set to run out in 2023, it looks like that will no longer be an issue. “The Nathan’s Famous acquisition is a meaningful step in the progression of Smithfield Foods allowing us to own all of the top brands in our Packaged Meats portfolio and unlock new growth opportunities for our largest segment,” Smithfield President and CEO Shane Smith said in a statement. (Should you have a stake in the stock market, Nathan’s Famous shares increased 8.7% to $100.81 after the news came about, according to ***The New York Post***. Though we as consumers likely won’t see much in the way of changes due to this sale, for that we are grateful. (Summers in NYC are incomplete without a pitstop to Nathan’s.) And good news: The Post further reveals that Smithfield plans to keep beloved traditions in place, including the hot dog-eating contest on the 4th of July. (We’ll see you there, Joey.) Source: https://secretnyc.co/nathans-famous-coney-island-just-sold/