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

Jeff Lewis

Sun, February 22, 2026 at 10:45 AM GMT+9 2 min read

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Smithfield Foods, Inc. (NASDAQ:SFD) is among the 11 Best High Growth Consumer Stocks to Buy Right Now.

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

On February 16, 2026, Smithfield Foods, Inc. (NASDAQ:SFD) announced it had initiated the approval process to build a new state-of-the-art packaged meats and fresh pork processing facility in Sioux Falls, South Dakota. The proposed facility, subject to permitting and other regulatory and design approvals, will be constructed in Foundation Park, a 1,000±acre heavy industrial park in northwest Sioux Falls, and will replace the company’s existing plant. Smithfield currently employs 3,200 people in Sioux Falls, pays approximately $200M in annual wages, and supports thousands of indirect jobs across agriculture and related sectors.

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, representing an enterprise value of approximately $450M. The transaction values Nathan’s at approximately 12.4x LTM adjusted EBITDA and about 10.0x post-synergies. Smithfield expects to achieve approximately $9M in annual cost synergies by the second anniversary of closing, and the acquisition is expected to be immediately accretive to adjusted diluted EPS from continuing operations attributable to Smithfield. The deal will be funded with cash on hand, is not subject to a financing contingency, and is expected to close in the first half of 2026, subject to stockholder 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 meats and fresh pork in the United States and internationally through its Packaged Meats segment, serving retail and foodservice customers.

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