UPDATE: Steak n Shake confirms new corporate HQ

February 9, 2010

The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming an IBJ story dated Feb. 8.

The company, which has called Indianapolis home since the 1970s, said in a statement Monday that the headquarters move actually took place in 2009.

Steak n Shake Co. plans to ask investors for approval to change its corporate name to Biglari Holdings Inc. at its annual meeting in April. It apparently will not seek approval for the headquarters move, as IBJ reported.

Most of the employees of the 75-year-old restaurant chain, a subsidiary company called Steak n Shake Operations Inc., will remain in Indianapolis. The name on the restaurants will not change.

Company officials refused to comment for IBJ's original story, and attacked the newspaper in its statement yesterday. The press release, which had a San Antonio dateline and confirmed the parent company's move to Texas, nonetheless described the story as "misleading" and containing a "multitude of errors." It did not specify any error.

Steak n Shake initially posted the release on news distribution service PR Newswire, but it disappeared a few hours later. The statement remains on the investors section of www.steaknshake.com. 

Company officials did not return a phone message Tuesday morning.

The company said the reason for the name change to Biglari Holdings is to avoid confusion between the parent company, now a diversified holding company managed by CEO Sardar Biglari, and the subsidiary companies, including Steak n Shake.

"New ownership and management are committed to the city of Indianapolis and look forward to continuing as active participants in the community," the statement said.


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