Smithfield Foods Inc. is buying Nathan’s, the most well-known hot dog in the United States.
Smithfield is paying $450 million, but the deal means it will save about $9 million a year. It holds exclusive rights to make the Nathan’s hot dogs in a deal that expires in March, 2032.
Nathan’s Famous began in 1916 as a hot dog stand in Coney Island, home to its annual July 4 hot-dog eating contest.
