v3.26.1
PENDING ACQUISITION
6 Months Ended
Jun. 28, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
PENDING ACQUISITION PENDING ACQUISITION
Nathan’s Famous, Inc.
On January 20, 2026, we entered into an agreement to acquire all of the issued and outstanding shares of Nathan’s Famous, Inc. (“Nathan’s”) for $102.00 per share in cash. The acquisition is expected to be funded using cash on hand. Since March 2014, we have held an exclusive license to manufacture, distribute, market and sell “Nathan’s Famous” branded hot dogs, sausages, corned beef and certain other ancillary products through retail outlets in the U.S. and Canada and Sam’s Clubs in Mexico. The license is scheduled to expire in March 2032. Completion of the transaction remains contingent upon meeting several conditions specified in the merger agreement, which include securing approval from the holders of a majority of Nathan’s outstanding common stock, obtaining clearance from the Committee on Foreign Investment in the United States, and fulfilling other standard closing requirements. We expect the transaction to close in the second half of 2026.