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Steak n Shake acquiring Western Sizzlin

Cory Schouten
August 13, 2009
Keywords
Real Estate & Retail, Steak n Shake
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The Steak n Shake Co. said today it plans to acquire the Western Sizzlin restaurant chain in a deal valued at $23 million.

The agreement calls for Roanoke, Va.-based Western Sizzlin, a steak and buffet concept with 110 locations in 19 states, to become a wholly owned subsidiary of the Indianapolis-based burger chain.

The CEO and chairman of Steak n Shake, Sardar Biglari, also heads the Western Sizzlin operation. His hedge fund, Lion Fund, controls 33 percent of Western Sizzlin shares and about 3.4 percent of Steak n Shake shares.

Steak n Shake, which has 490 restaurants in 21 states, on Monday reported big increases in customer traffic and same-store sales for its quarter ended July 1. The company also disclosed plans to pursue investments in the form of acquisitions, joint ventures or partnerships.

 

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  1. Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.

  2. Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.

  3. I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.

  4. The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.

  5. I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!

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