Activist investor jumps into Cracker Barrel

A Texas value investor with a history of stirring the pot at other restaurant chains has in the past month become the biggest shareholder at Cracker Barrel Old Country Store.

Entities controlled by Sardar Biglari late on Monday said they have spent more than $100 million to take a 9.7 percent stake in Lebanon-based Cracker Barrel. In the filing, they declare themselves to be active investors and voice their intent to contact Cracker Barrel executives “regarding the business, governance and future plans of the Issuer.”

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