Biglari Holdings
{{short description|American holding company headquartered in San Antonio, Texas, US}}
{{Use mdy dates|date=April 2025}}
{{Infobox company
| name = Biglari Holdings Inc.
| logo = File:Biglari_Holdings_logo.png
| type = Public
| traded_as = {{Nyse|BH.A}} (Class A)
{{Nyse|BH}} (Class B)
S&P 600 Component (BH)
{{nowrap|Russell 2000 Index Component (BH.A)}}
| location = San Antonio, Texas, United States
|area_served =
| key_people = Sardar Biglari (Founder)
| industry = Conglomerate
| products =
| revenue =
| operating_income =
| net_income =
| num_employees =
| subsid = Steak 'n Shake
Western Sizzlin'
Maxim
First Guard Insurance
| homepage = [http://www.biglariholdings.com www.biglariholdings.com]
| intl =
}}
Biglari Holdings Inc. is an American holding company headquartered in San Antonio, Texas, founded by entrepreneur Sardar Biglari. Its subsidiaries include Steak 'n Shake, Maxim magazine, First Guard Insurance, Southern Pioneer Insurance, Southern Oil, Abraxas Petroleum and Western Sizzlin'.
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.”{{cite web |url=https://www.qsrmagazine.com/executive-insights/who-sardar-biglari-0 |title=Who is Sardar Biglari? - QSR magazine |accessdate=2016-01-22 |url-status=dead |archiveurl=https://web.archive.org/web/20160129180827/https://www.qsrmagazine.com/executive-insights/who-sardar-biglari-0 |archivedate=2016-01-29 }} By 2015, the company had attained 24 consecutive quarters of same-store sales increases under Biglari.{{Cite news |date=March 18, 2019 |title=San Antonio's Sardar Biglari looks to reverse Steak n Shake's slide |url=https://www.expressnews.com/business/local/article/San-Antonio-s-Sardar-Biglari-looks-to-reverse-13689992.php |work=San Antonio Express News}} However, for fiscal 2017 and 2018, the Steak n Shake division had returned to same-store sales contraction.{{cite web |title=Biglari Holdings Form 10-K |url=https://www.sec.gov/Archives/edgar/data/1726173/000119380519000242/form10k07428001_02252019.htm |website=Securities and Exchange Commission |publisher=Biglari Holdings |accessdate=19 May 2019}} 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."{{cite web|last=Jefferson |first=Greg |url=http://www.expressnews.com/business/business_columnists/greg_jefferson/article/Biglari-s-Maxim-purchase-is-a-classic-5298580.php |title=Biglari's 'Maxim' purchase is a classic 'alpha-dog' move – San Antonio Express-News |website=Expressnews.com |date=2014-03-07 |accessdate=2017-06-23}} 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.{{cite web |last=Sterne |first=Peter |url=http://www.capitalnewyork.com/article/media/2016/01/8586909/maxim-name-owner-sardar-biglari-editor-chief |title=Maxim to name owner Sardar Biglari editor in chief- POLITICO Media |website=Capitalnewyork.com |date=2016-01-08 |accessdate=2017-06-23 |archive-url=https://web.archive.org/web/20160506214030/http://www.capitalnewyork.com/article/media/2016/01/8586909/maxim-name-owner-sardar-biglari-editor-chief |archive-date=2016-05-06 |url-status=dead }} 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.{{cite web|author=Alexandra Steigrad |url=http://wwd.com/media-news/fashion-memopad/maxim-names-gilles-bensimon-as-special-creative-advisor-sardar-bilgari-10313209/ |title=Maxim Taps Gilles Bensimon as Special Creative Adviser – WWD |website=Wwd.com |date=2016-01-13 |accessdate=2017-06-23}}
First Guard Insurance
On March 19, 2014, Biglari purchased First Guard Insurance Company.{{Cite news |date=March 19, 2014 |title=Biglari buys Florida trucking insurer |url=https://www.expressnews.com/business/local/article/biglari-buys-florida-trucking-insurer-5332441.php |work=San Antonio Express News}} First Guard Founder and CEO Ed Campbell said: "I couldn't imagine a better, more fitting owner of First Guard."{{Cite web |date=March 20, 2014 |title=Biglari Holdings buys First Guard Insurance |url=https://www.bizjournals.com/sanantonio/blog/2014/03/biglari-holdings-buys-first-guard-insurance.html |access-date=2025-03-02 |website=www.bizjournals.com}}
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.{{Cite web |date=16 March 2020 |title=Arkansas' Southern Pioneer P/C Insurance Acquired by Biglari; Ratings Unchanged |url=https://www.insurancejournal.com/news/southcentral/2020/03/16/561246.htm |website=insurancejournal.com}}
Oil and gas operations
In September 2019, Biglari acquired Southern Oil of Louisiana Inc. for $51.5 million.{{Cite web|url=https://www.mysanantonio.com/sa-inc/article/Has-San-Antonio-s-Sardar-Biglari-lost-his-touch-15393824.php|title = Has San Antonio's Sardar Biglari lost his touch?|date = 7 July 2020}}{{Cite web |date=February 25, 2020 |title=Why Biglari turned to acquisitions in these two industries as restaurant business flops |url=https://www.bizjournals.com/sanantonio/news/2020/02/25/why-biglari-turned-to-acquisitions-in-these-two.html |access-date=2025-03-02 |website=bizjournals.com}}
In 2022, Biglari acquired 90% of the voting power of San Antonio-based Abraxas Petroleum for $80 million.{{cite web |date=3 October 2022 |title=Enigmatic investor Sardar Biglari snaps up troubled San Antonio-based driller Abraxas Petroleum |url=https://www.expressnews.com/business/local/article/Iinvestor-Sardar-Biglari-Abraxas-Petroleum-17480413.php |website=San Antonio Express News}}{{Cite news |title=Biglari Holdings Inc |url=https://www.reuters.com/markets/companies/BH.PH/ |work=reuters.com}}
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.{{Cite web |title=Sardar Bfiglari Affiliates Acquire More 55 Jack-Box Shares |url=https://www.nrn.com/quick-service/sardar-bfiglari-affiliates-acquire-more-55-jack-box-shares |website=www.nrn.com}}
Ferrari
In 2022, Biglari acquired 360,000 shares of Ferrari.{{Cite web |last=Danner |first=Patrick |date=2023-02-27 |title=San Antonio investor Sardar Biglari adds Jack in the Box, Ferrari to investment portfolio |url=https://www.expressnews.com/business/local/article/investor-sardar-biglari-jack-in-the-box-ferrari-17808516.php |access-date=2025-01-16 |website=San Antonio Express-News |language=en}} By 2023, the ownership had grown to 402,000 shares with a market value of $135 million dollars.{{Cite web |title=Shareholders of Biglari Holdings Inc. |url=https://www.biglariholdings.com/letters/2023/2023.pdf#zoom=100 |access-date=January 16, 2025 |website=www.biglariholdings.com}}
References
{{Reflist}}
External links
- {{official website|http://www.biglariholdings.com/}}
- {{Finance links
| symbol = BH
| sec_cik = 0001726173
| google = NYSE:BH
| yahoo = BH
| bloomberg = BH:US
| reuters = BH
| nasdaq = BH
}}
{{Biglari Holdings}}
{{Authority control}}
Category:Companies listed on the New York Stock Exchange
Category:Conglomerate companies of the United States
Category:Holding companies of the United States
Category:Companies based in San Antonio
{{US-restaurant-stub}}