00:00Iconic Nathan's Famous Hot Dog sold in $450 million de-
00:05Some brands don't just sell food, they sell July.
00:10Over a century, Nathan's Famous has been less about the hot dog itself, and more about
00:14the spec-
00:15The spectacle, the tradition, and that one chaotic day every summer when-
00:20Grown adults willingly punish their digestive systems on live television.
00:24Now-
00:25That legacy has a new owner.
00:27The Coney Island hot dog brand that built a century-long-
00:30reputation on a single stand and a single product has been sold for about $400 million.
00:35$150 million to Smithfield Foods, a food processing company based in Smithfield-
00:40Virginia.
00:41The long-time producer is reportedly acquiring Nathan's Famous at a price-
00:45of $102 per share.
00:47The buyer already has deep ties to the brand.
00:50Having produced Nathan's packaged products in the U.S. and Canada since 2014.
00:55That existing relationship is one reason the deal does not come with major changes at
01:00time.
01:01The contest isn't going anywhere.
01:04Smithfield said it-
01:05He plans to continue hosting the annual 4th of July hot dog eating contest at Nathan's
01:09Original
01:10location in Coney Island.
01:11The event, which has become one of the most recognizable summer-
01:15events in the country, will stay put outside the Surf Avenue stand where it began.
01:20The contest has helped turn Nathan's into more than a restaurant chain.
01:24It is a-
01:25cultural fixture broadcast nationally and closely associated with competitive-
01:30eating icons.
01:31Reigning champion Joey Chestnut has not yet commented publicly
01:35on the sale.
01:36Neither has Miki Sudo, who has dominated the women's competition.
01:40in recent years.
01:41Founded in 1916, Nathan's famous grew from a single-
01:45hot dog stand into a global brand, largely by keeping its image tightly controlled while
01:50expanding through licensing and packaged foods.
01:53Under Smithfield's ownership,
01:55that strategy appears set to continue.
01:57The ownership is changing.
01:59The hot dogs are not.
02:00And on July 4th, the countdown will still start at 60.
02:05this episode will be 50 seconds.
02:06This will be the final episode of the F- 13 and long-term
02:06這 ainda é um a talento.
02:07The first one I gave you to a family in B-18,
02:09a local and a combination of the size of the Mar karaoke,
02:10the first one that's made a great family in B-18,
02:12the second three is a big one that's made for years.
02:13This one that's made sure the difference between Miki Sudo,
02:14the last two is a year to add a liberal food-sized-based culture in this industry.
02:15So I think I hope the idea of getting the main energy out of that
02:16is only one day out of the South-any,
02:18the next one is an amazing program.
02:19This is a year for the amount of school.
02:20I hope the other two have been funded by the year
02:21in the last 10th,
02:22the only way they have been dating.
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