Biglari Holdings

Biglari Holdings Inc. is an American holding company headquartered in San Antonio, Texas founded by entrepreneur Sardar Biglari. Its major subsidiaries include Steak 'n Shake, Maxim magazine, First Guard Insurance, and Western Sizzlin'.

Biglari Holdings Inc.
TypePublic
NYSE: BH.A (Class A)
NYSE: BH (Class B)
S&P 600 Component (BH)
Russell 2000 Index Component (BH.A)
IndustryConglomerate
HeadquartersSan Antonio, Texas, United States
Key people
Sardar Biglari (Founder)
SubsidiariesSteak 'n Shake
Western Sizzlin'
Maxim
First Guard Insurance
Websitewww.biglariholdings.com

Steak n Shake

In August 2008, Biglari took over Steak n Shake, which had been losing more than $100,000 a day. Biglari turned the company around from near insolvency to one making more than $100,000 a day.[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]

Southern Oil of Louisiana

In September 2019, Biglari acquired Southern Oil of Louisiana Inc. for $51.5 million dollars.[9]

References
  1. "Archived copy". Archived from the original on 2016-01-29. Retrieved 2016-01-22.CS1 maint: archived copy as title (link)
  2. "Steak 'n Shake Achieves 24th Consecutive Quarter Of Same-Store Sales Growth". Prnewswire.com. Retrieved 2017-06-23.
  3. "Biglari Holdings Form 10-K". Securities and Exchange Commission. Biglari Holdings. Retrieved 19 May 2019.
  4. 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.
  5. 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.
  6. Alexandra Steigrad (2016-01-13). "Maxim Taps Gilles Bensimon as Special Creative Adviser – WWD". Wwd.com. Retrieved 2017-06-23.
  7. "Biglari Holdings Inc. Acquires First Guard Insurance Company". Prnewswire.com. Retrieved 2017-06-23.
  8. https://www.insurancejournal.com/news/southcentral/2020/03/16/561246.htm
  9. https://www.mysanantonio.com/sa-inc/article/Has-San-Antonio-s-Sardar-Biglari-lost-his-touch-15393824.php


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