Smithfield Foods, Inc. (SFD) Announces it Initiated the Approval Process to Build a New Packaged Meats and Fresh Pork Processing Facility

Smithfield Foods, Inc. (NASDAQ:SFD) between The 11 Best High-Growth Consumer Stocks to Buy Right Now.

On February 16, 2026, Smithfield Foods, Inc. (NASDAQ:SFD) announced that it has initiated the approval process to build a new state-of-the-art packaged meat and fresh pork processing facility in Sioux Falls, South Dakota. The proposed facility, subject to permits and other regulatory and design approvals, would be built in Foundation Park, a 1,000-acre heavy industrial park northwest of Sioux Falls, and would replace the company’s existing facility. Smithfield currently employs 3,200 people in Sioux Falls, pays nearly $200 million in annual wages and supports thousands of indirect jobs in agriculture and related industries.

On January 21, 2026, Smithfield Foods and Nathan’s Famous (NATH) entered into a definitive merger agreement under which Smithfield will acquire all outstanding shares of Nathan’s Famous for $102.00 per share in cash; This represents an enterprise value of approximately $450 million. The transaction values ​​Nathan at approximately 12.4 times LTM adjusted EBITDA and approximately 10.0 times post-synergies. Smithfield expects to achieve annual cost synergies of approximately $9 million by the second anniversary of the closing, and the acquisition is expected to be immediately accretive to adjusted diluted EPS from continuing operations attributable to Smithfield. The deal will be financed with cash on hand, is not subject to any financing conditions, and is expected to close in the first half of 2026, subject to shareholder approval, regulatory clearances including Hart-Scott-Rodino and CFIUS, and other customary conditions. The agreement allows Nathan’s Famous to declare and pay two regular quarterly cash dividends prior to closing.

Smithfield Foods, Inc. (NASDAQ:SFD) produces packaged meat and fresh pork in the United States and internationally through its Packaged Meats segment, which serves retail and foodservice customers.

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