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WH GROUP's Smithfield Foods Acquires Hot Dog Brand Nathan's Famous
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WH GROUP (00288.HK)'s subsidiary, Smithfield Foods (SFD.US), entered into a definitive merger agreement with Nathan's Famous (NATH.US), the operator of the hot dog brand Nathan's Famous, to acquire all of Nathan's Famous' issued and outstanding shares for US$102 per share in cash, which represents an enterprise value of approx. US$450 million, as announced by WH GROUP. The closing of the transaction is expected to occur in 1H26. The transaction represents a valuation of approx. 12.4x Nathan's Famous' LTM adjusted EBITDA and a multiple of approx. 10x post-synergies. Smithfield Foods expected to achieve annual cost synergies of approx. US$9 million by the second anniversary of the deal closing. AASTOCKS Financial News Website: www.aastocks.com |
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