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Groveland Capital Files Notice To Oust Sardar Biglari’s Board Slate

Sardar Biglari’s control of Biglari Holdings (BH), a holding company that owns the Steak N’ Shake restaurant chain together with 4,737,794 shares of Cracker Barrel Old Country Store, Inc. (CBRL), may be in jeopardy. A group calling itself Groveland Master Fund Ltd. intends to offer a competing slate of directors at the April 9, 2015 annual meeting of Biglari Holdings.

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STORE Capital’s IPO: More Real Estate Dollars For Restaurants

“We’ve had a prominent place in the marketplace and we intend to keep that,” said Chris Volk, CEO of STORE Capital. “ We’re the only net institution that is backed by big institution like Oaktree Capital. Having those kinds of relationships, not just the public markets relationship, puts us in to the position of being creative and growing the company.

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A Buffet of New Clients: With SS&G Merger, BDO Now Boasts Nation’s Largest Restaurant Niche

The union between the two Top 100 accounting firms automatically ushers in roughly 300 SS&G restaurant clients to BDO’s portfolio, transforming the Chicago-based firm’s limited foodservice vertical to the largest restaurant practice in the country among CPA firms.

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Third quarter results for Popeyes Louisiana Kitchen Inc. were easy to digest – even for the most finicky investor.

The 2,300-unit quick serve operator and franchisor reported that domestic store sales rose 7.2 percent for the quarter – its 18th consecutive period of same unit growth – while its overseas restaurants posted gains of 8.3 percent. In the company’s “heritage” markets – New Orleans and Memphis – same store sales climbed 12.7 percent.

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Famous Dave’s: Turnaround Case

Famous Dave’s CEO Ed Rensi revealed the company’s directives during a third quarter earnings call with investors and analysts. Rensi said he will look toward the company’s existing pool of franchisees as well as interested outside parties to acquire available company stores. In addition, anywhere from 4-6 franchised units are expected to be in the pipeline for 2015.

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FINANCE & REAL ESTATE DIRECTORY

Franchise Times would like to introduce you to the lenders and real estate advisory sources that are targeting the restaurant industry.

 

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Finance & Real Estate Directory

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