On Wednesday, January 21, Nathan’s Famous, the local hot dog historian of Coney Island, in Brooklyn, was sold for $450 million. The operation covers the symbol of Surf Avenue, opened in 1916, which has become one of the most recognizable places in New York’s popular culture and a fixed stage in the summer: of course, the Nathan’s Hot Dog Eating Contest, the traditional 4 July food-hot dog race.
Nathan’s Famous was purchased by Smithfield Foods, a food company based in Virginia specializing in the processing and distribution of packaged meat. Smithfield has already held the exclusive license to produce and sell Nathan’s Famous products in the United States and Canada since 2014, as well as Sam’s Club stores in Mexico. The license would expire in 2023, but after the acquisition it will no longer be a problem.
In a statement, Smithfield’s CEO, Shane Smith, defined the operation “a strategic step” to strengthen the company’s brand portfolio in the packaged meat sector and to create new opportunities for commercial growth. According to the New York Post, after the announcement, Nathan’s Famous’s shares rose by 8.7 percent, reaching $100.81.
There are no substantial changes in the offer or experience of Coney Island. Smithfield said he wanted to keep the traditions that made Nathan’s Famous famous, starting from the July 4 competition, which every year attracts thousands of spectators and is followed internationally. Among the historical protagonists of the race there is Joey Chestnut, several times winner and central figure in the transformation of the event in a media show, which in 2024 was banned from the competition, which he took part last year.
L’articolo The historian Nathan’s Famous of Coney Island was sold for $450 million proviene da IlNewyorkese.
