Nathan’s Famous has been gobbled up by Virginia-based Smithfield Foods, which is owned by China’s WH Group—and the new owner says the iconic Fourth of July hot dog eating contest will continue.
The deal is for $102 per Nathan’s share, equivalent to a total value of $450 million, including debt.
A Smithfield spokesperson tells Front Office Sports “we plan to continue” the Nathan’s Fourth of July Hot Dog Eating Contest, which started in 1972. A Nathan’s spokesperson tells FOS “the plan is to continue to have the contest at the restaurant in Coney Island, with George Shea as the emcee.”
Since 1997, the contest has been hosted by Major League Eating, which is run by George Shea and his brother, Richard Shea. George Shea, who is in his early 60s, runs a real estate public relations firm, but every July Fourth he dons a straw hat and serves as the boisterous emcee of the hot dog contest on Coney Island.
Although MLE hosts more than 70 eating contests each year—including for ribs and “sloppers” (a slopper is a hamburger or cheeseburger smothered in some kind of chili or chili sauce)—the Nathan’s hot dog contest is the backbone of the business. This summer, George Shea told FOS the relationship between MLE and Nathan’s is a “true partnership,” and said the hot dog contest is a “very powerful share of our business.”
This year’s contest featured the return of competitive eating superstar Joey Chestnut, who had been banned the prior year over a plant-based brand deal. Chestnut retook the men’s crown, eating a contest-winning 70 and a half hot dogs in 10 minutes.
The total prize purse for 2025 was $40,000, with first-place winners in the men’s and women’s competitions each receiving $10,000, while second-place finishers got $5,000 apiece and third-place finishers got $2,500 each.
The acquisition of Nathan’s solidifies an already-existing relationship between it and Smithfield, which has held an exclusive license to make, distribute, market, and sell Nathan’s Famous hot dogs, sausages, corned beef, and other products in the U.S., Canada, and Sam’s Clubs in Mexico since 2014. Although that license is set to expire in 2032, Smithfield said in Wednesday’s press release that its deal for Nathan’s will secure its rights in “perpetuity.”
The companies expect to complete the transaction in the first half of this year, meaning that by the time the 2026 contest rolls around, Nathan’s will be formally part of the Smithfield portfolio.
Smithfield is owned by China-based WH Group, which is publicly traded in Hong Kong and bills itself as the “largest pork company in the world.” WH Group bought Smithfield in 2013 for $7.1 billion, including debt.
In November Nathan’s reported fiscal second-quarter revenues of almost $45.7 million, compared to about $41.1 million the year before. Its earnings before interest, taxes, depreciation and amortization were about $8.3 million, down from roughly $10.35 million the previous year.
