Biglari Holdings Inc.

Biglari Holdings operates a diversified portfolio of businesses centered on restaurant franchising and ownership. The company's primary revenue driver is its restaurants segment, which includes the Steak n Shake and Western Sizzlin brands. These operations span company-owned locations and franchised units across the United States, with approximately 2,535 full-time employees supporting the restaurant portfolio.

Beyond restaurants, Biglari Holdings maintains several secondary business segments. The company underwriting unit provides commercial truck insurance, offering physical damage and non-trucking liability coverage to truckers. The company also operates oil and natural gas properties, with holdings in offshore Louisiana state waters and the Permian Basin. Additionally, Biglari Holdings publishes and licenses magazines under the MAXIM brand name.

The company engages in investment activities alongside its operating businesses. Biglari Holdings was incorporated in Indiana and maintains headquarters in San Antonio, Texas. The restaurant segment represents the largest operational component, with Steak n Shake being the most established brand following the company's 1934 founding. The organizational structure reflects a holding company model with distinct business divisions operating independently within the broader corporate framework.