Activist investor urges Cracker Barrel sale

Activist investor urges Cracker Barrel sale

Sardar Biglari contends that the company is not maximizing shareholder returns

Cracker Barrel Old Country Store Inc.’s largest single shareholder urged the family-dining operator Wednesday to consider strategic options, including a possible sale.

Activist investor Sardar Biglari, chairman of San Antonio, Texas-based Biglari Holdings Inc., said in regulatory filings that the management and board of Lebanon, Tenn.-based Cracker Barrel were not maximizing returns for shareholders.

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