- Feb 5, 2002
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China is eating America’s lunch.
Iconic hot dog company Nathan’s Famous, best known for putting on the July hot dog eating contest, is being sold to Chinese-owned pork producer Smithfield Foods., for $450 million in cash. The companies announced the transaction last week, with Smithfield gobbling up Nathan’s shares for $102 each.
Some China watchers have expressed misgivings about a famous American brand being sold to a Chinese-owned company. U.S. competition with the Chinese Communist Party takes many forms, with food security being one of them.
Continued below.
www.nationalreview.com
Iconic hot dog company Nathan’s Famous, best known for putting on the July hot dog eating contest, is being sold to Chinese-owned pork producer Smithfield Foods., for $450 million in cash. The companies announced the transaction last week, with Smithfield gobbling up Nathan’s shares for $102 each.
Some China watchers have expressed misgivings about a famous American brand being sold to a Chinese-owned company. U.S. competition with the Chinese Communist Party takes many forms, with food security being one of them.
Continued below.
Iconic Hot Dog Chain Nathan’s Sold to Chinese Pork Producer | National Review
Smithfield Foods purchased Nathan’s for $450 million in cash.