Biglari Holdings Inc. is a diversified holding company based in San Antonio, Texas, that primarily engages in the restaurant sector through the operation and franchising of its establishments, which include the popular Steak 'n Shake chain. The company employs a unique investment strategy focused on acquiring and growing undervalued businesses, leveraging its operational expertise to enhance profitability and shareholder value. With a commitment to disciplined capital allocation and long-term growth, Biglari Holdings positions itself as a dynamic player in the competitive landscape of the food and beverage industry.