Nathan's Famous restaurant on Coney Island

Nathan’s Famous restaurant at Coney Island (Getty Images)

Iconic hot dog brand Nathan’s Famous just sold for $450 million

Packaged meat company Smithfield Foods has agreed to acquire the historic Coney Island staple — best known for its annual hot dog eating contest — in an all-cash deal.

Millie Giles

1/23/26 8:57AM

Monster trucks. Red solo cups. Stars with or without stripes. There are a few distinct symbols of American culture, and one of the most evocative is a sausage of questionable origin, nestled in a bifurcated bun and decorated with condiments.

For more than a century, the humble hot dog has been a fixture of countless cookouts, sporting events, fairgrounds, and movie theaters. Now, Nathan’s Famous, one of the biggest names in the glizzy game, has been bought by its longtime partner Smithfield Foods in a $450 million all-cash deal, the companies announced Wednesday.

Back in 1916 — the same year, legend has it, that the very first of Nathan’s illustrious hot dog eating contests took place — a single stand on Coney Island manned by Nathan Handwerker sold hot dogs for a nickel apiece. A winning formula of cheap (doctor-approved?) meat and a secret spice blend saw Nathan’s quickly expand, before going public in 1968.

Cut to present day, and Nathan’s Famous is a global brand, racking up over $148 million in sales in FY2025. Indeed, the company has come a long way from street-side stalls: its branded product program, which allows food service operators to sell Nathan’s Famous products at venues like restaurant chains, hotels, stadiums, and arenas, is booming.

Nathan’s Famous revenues by segment — Sherwood News

Looking at Nathan’s results, the branded product segment generated $29 million in the most recent fiscal quarter, equivalent to 64% of total revenue. Meanwhile, its actual restaurant operations, which include company-owned restaurants and franchise operators, bring in comparatively low sales figures — though, naturally, this segment also sees an annual bump in the summer.

Until ’furter notice

So, why might Smithfield Foods — a Virginia-based pork producer owned by China’s WH Group, the world’s largest pork company — relish the opportunity to buy a century-old New York icon that’s famously all-beef?

Well, Smithfield already held the rights to produce and sell Nathan’s products in the US and Canada, and considering that packaged meats is already its largest segment, wanting to buy out a growing big-name processed meat brand makes sense. The companies have predicted annual cost synergies of about $9 million within two years of closing, which is expected to occur in early 2026.

Besides, as Nathan’s looks to continue its international expansion beyond its current 79,000 sale locations across 21 countries, links to a world-leading meat industry titan might help it play ketchup on a global scale.

Max Knoblauch6/15/26

Electronic Arts launches a platform to put more ads in its games

Video game publishing giant EA launched a new platform on Monday designed to make the process of selling immersive ad space in its popular games easier.

The company says the platform, called EA Advertising, allows brands to “integrate directly into gameplay through dynamic, real-time placements, from stadium signage to custom in-game content.”

More so than other studios, EA has incorporated advertising into its most popular titles. As Kotaku points out, the company’s ad efforts stretch as far back as 2006. Several of its sports franchises already feature partnerships with brands like Visa, Lowe’s, Red Bull, and PepsiCo.

In-game advertising hasn’t exactly been embraced by fans, but industry experts expect it to ramp up as companies seek more revenue to offset higher games budgets and surging memory costs. EA rival Take-Two has taken a different approach, with CEO Strauss Zelnick recently saying the company was “not at risk of doing brand partnerships” in the forthcoming “Grand Theft Auto VI,” and that ads in full-price games seems “unfair.”

The $55 billion deal to take EA private, led by Saudi Arabia’s Public Investment Fund, is set to close at the end of this month. Being the largest leveraged buyout in history, EA will likely look for more ways to boost revenue to cover interest payments.

Electronic Arts Makes Push for Ad Dollars Tied to Sports

Millie Giles6/11/26

JM Smucker says it sold $1 billion worth of Uncrustables in FY2026

After years of booming sandwich sales, JM Smucker has finally earned a billion-dollar crust.

On Tuesday, the company reported results for fiscal year 2026, highlighting better-than-expected profits driven by higher prices for coffee and sweet baked goods. However, at another point on the earnings call, CEO Mark Smucker pointed to one particularly jammy figure: in line with previous forecasts, the company sold $1 billion worth of its (almost always) crustless sandwiches, Uncrustables, in the last year alone.

Max Knoblauch6/8/26

Paramount reportedly offers concessions to resolve multistate antitrust investigation

Paramount has reportedly offered up some concessions in an effort to prevent an antitrust lawsuit by California and about 10 other states, according to Bloomberg reporting on Monday.

Reuters first reported on the potential suit from a group of unnamed states last week, which could throw a wrench in Paramount’s plans to buy rival Warner Bros. Discovery in a Hollywood megamerger.

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

Paramount Offers Concessions to Head Off State Antitrust Lawsuit

The list of concessions is unknown, though Bloomberg previously reported that Paramount is open to divesting some of its kids TV assets to appease EU regulators.

Late last month, reports said US regulators appeared likely to approve the $110 billion merger, following a meeting between Paramount CEO David Ellison and DOJ antitrust staffers.

$98B ⛽

Max Knoblauch6/8/26

The IATA released its latest financial outlook for the airline industry over the weekend, forecasting a $98 billion jump in the sector’s collective fuel bill. The world’s largest trade group representing airlines expects the oil spike to halve profits by 49% from last year to $23 billion.

The group also expects profit margins to halve year over year, falling from 2025’s 4.2% to 2%. Still, revenue is expected to climb to $1.17 trillion from $1.07 trillion.

A surge in the cost of jet fuel has rocked US and global airlines this year, leading Delta Air Lines, United Airlines, American Airlines, Southwest Airlines, JetBlue, and others to raise fares and ancillary charges like bag fees. Low-cost carriers, which operate on smaller margins, have been squeezed the hardest, resulting in Spirit’s shutdown.

“It’s a tough year for all airlines, especially those whose balance sheets had not yet recovered from COVID. And, of course, for those operating in the Gulf,” said IATA Director General Willie Walsh, who added that demand is holding up and about half of passengers expect to spend more on travel this year. “That bodes well for a strong northern summer peak season. The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”