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2025-02-13 17:25
Nathan's Famous (NASDAQ:NATH), the fast-food chain that began as a nickel hot dog stand in 1916 in New York City's Coney Island, is said to be considering a sale, the Financial Times reported.
The talks are preliminary, people familiar with the matter told FT, and the company may not finalize a deal. Potential buyers include private equity firms and major food manufacturers.
Howard Lorber, executive chairman of Nathan's Famous (NASDAQ:NATH) and former head of real estate broker Douglas Elliman, owns nearly a quarter of the fast-food chain's shares.
Nathan's Famous (NATH) runs four company-owned restaurants and has 240 franchise locations as of the end of 2024. It's also popular for its Fourth of July hot-dog eating contest, held annually at its original location on Coney Island.
But its product licensing segment accounts for most of its revenue, under which it sells its branded products - ranging from hot dogs to French fries - through supermarkets and grocery stores.
The company's market capitalization is currently $357.4M, and its shares have climbed 31% over the past year.