Biglari Holdings
Founder) | |
Subsidiaries | Steak 'n Shake Western Sizzlin' Maxim First Guard Insurance |
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Website | www.biglariholdings.com |
Biglari Holdings Inc. is an American
Steak n Shake
In August 2008, Biglari took over Steak n Shake, which had been “losing more than $100,000 a day in 2009 to making more than $100,000 a day in 2010, according to Biglari’s 2010 letter to shareholders.”[1] By 2015, the company had attained 24 consecutive quarters of same-store sales increases under Biglari.[2] However, for fiscal 2017 and 2018, the Steak n Shake division had returned to same-store sales contraction.[3] The company is now selling “franchises” claiming they will split profits 50% / 50% with the investors who put in $10,000.
Maxim
On February 27, 2014, Maxim magazine was bought by Biglari who commented, "We plan to build the business on multiple dimensions, thereby energizing our readership and viewership."[4] In January 2016, Biglari officially took over as editor-in-chief of Maxim, though a Maxim staffer said that the new masthead title just formalizes what has always been clear: Biglari exercises full editorial control over Maxim. At one point last year, the staffer said, he decided to throw out a nearly complete version of the December issue in order to completely redesign the magazine.[5] On January 13, 2016, Gilles Bensimon joined Biglari as a special creative director. "What drew me to Maxim was Sardar's vision for the brand," said Bensimon.[6]
First Guard Insurance
On March 19, 2014, Biglari purchased First Guard Insurance Company. First Guard Founder and CEO Ed Campbell said: " I couldn't imagine a better, more fitting owner of First Guard."[7]
Southern Pioneer Property and Casualty Insurance
In 2020, Biglari acquired Southern Pioneer Property & Casualty Insurance Co. from the Hyneman family who will continue to operate the company. Since 1981, Southern Pioneer has grown from $500,000 in capital and surplus and zero premium to over $18,000,000 capital and surplus with written premium in excess of $24,000,000 in 2015.[8]
Oil and Gas Operations
In September 2019, Biglari acquired Southern Oil of Louisiana Inc. for $51.5 million.[9]. In 2022, Biglari acquired 90% of the voting power of San Antonio-based Abraxas Petroleum for $80 million. [10]
Jack in the Box
Biglari owns 1.1 million shares of Jack in the Box indicating an ownership of more than 5.5% of the company.[11]
Ferrari
In 2022, Biglari acquired 360,000 shares of Ferrari[12]. By 2023, the ownership had grown to 402,000 shares with a market value of $135 million dollars.[13]
References
- ^ "Who is Sardar Biglari? - QSR magazine". Archived from the original on 2016-01-29. Retrieved 2016-01-22.
- ^ "Steak 'n Shake Achieves 24th Consecutive Quarter Of Same-Store Sales Growth". Prnewswire.com. Retrieved 2017-06-23.
- ^ "Biglari Holdings Form 10-K". Securities and Exchange Commission. Biglari Holdings. Retrieved 19 May 2019.
- ^ Jefferson, Greg (2014-03-07). "Biglari's 'Maxim' purchase is a classic 'alpha-dog' move – San Antonio Express-News". Expressnews.com. Retrieved 2017-06-23.
- ^ Sterne, Peter (2016-01-08). "Maxim to name owner Sardar Biglari editor in chief- POLITICO Media". Capitalnewyork.com. Archived from the original on 2016-05-06. Retrieved 2017-06-23.
- ^ Alexandra Steigrad (2016-01-13). "Maxim Taps Gilles Bensimon as Special Creative Adviser – WWD". Wwd.com. Retrieved 2017-06-23.
- ^ "Biglari Holdings Inc. Acquires First Guard Insurance Company". Prnewswire.com. Retrieved 2017-06-23.
- ^ "Arkansas' Southern Pioneer P/C Insurance Acquired by Biglari; Ratings Unchanged". 16 March 2020.
- ^ "Has San Antonio's Sardar Biglari lost his touch?". 7 July 2020.
- ^ https://www.expressnews.com/business/local/article/Iinvestor-Sardar-Biglari-Abraxas-Petroleum-17480413.php
- ^ https://www.nrn.com/quick-service/sardar-bfiglari-affiliates-acquire-more-55-jack-box-shares
- ^ https://www.expressnews.com/business/local/article/investor-sardar-biglari-jack-in-the-box-ferrari-17808516.php
- ^ https://www.biglariholdings.com/letters/2023/2023.pdf#zoom=100
External links
- Official website
- Business data for Biglari Holdings: