Cracker Barrel Files Updated Presentation on Biglari Holdings Proxy Contest
The new presentation highlights the progress Cracker Barrel has made under new leadership, and outlines in additional detail why it believes Sardar Biglari is wrong for Cracker Barrel and why shareholders should NOT support him in his attempt to gain a seat on the Company’s Board of Directors.
Cracker Barrel Old Country Store, Inc.(Nasdaq: CBRL) filed an updated version of its investor presentation in its proxy contest with Biglari Holdings Inc. The new presentation highlights the progress Cracker Barrel has made under new leadership, and outlines in additional detail why it believes Sardar Biglari is wrong for Cracker Barrel and why shareholders should NOT support him in his attempt to gain a seat on the Company’s Board of Directors.
The Company’s updated presentation can be found at the following link: http://investor.crackerbarrel.com/proxy_contest.cfm.
The presentation emphasizes that Cracker Barrel:
- Stock has outperformed the market and peers over the long term;
- Has a strategy in place for its next phase of growth under new CEO Sandy Cochran that is delivering results;
- Has significantly renewed the Board and management with experienced, engaged, energetic leaders, and
- Continues to strive for operational excellence and create value for shareholders.
- Has previously used a proxy fight to gain control without paying a premium to shareholders;
- Has a history of extraordinary turnover on boards after he joins;
- Raises business and legal conflicts of interest issues as the CEO of a restaurant company that the Company believes competes with Cracker Barrel;
- Has engaged in what the Company views as poor corporate governance and self-interested transactions, and
- Has raised ideas for Cracker Barrel that are not appropriate at this time.
About Cracker Barrel
Cracker Barrel Old Country Store restaurants provide a friendly home-away-from-home in their old country stores and restaurants. Guests are cared for like family while relaxing and enjoying real home-style food and shopping that's surprisingly unique, genuinely fun and reminiscent of America's country heritage…all at a fair price. The restaurant serves up delicious, home-style country food such as meatloaf and homemade chicken n' dumplins as well as its signature biscuits using an old family recipe. The authentic old country retail store is fun to shop and offers unique gifts and self-indulgences.
Headquartered in Lebanon, Tennessee, Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) was established in 1969 and operates 608 company-owned locations in 42 states. Every Cracker Barrel unit is open seven days a week with hours Sunday through Thursday, 6 a.m. — 10 p.m., and Friday and Saturday, 6 a.m. - 11 p.m.
Logos, product and company names mentioned are the property of their respective owners.
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