Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company")
CBRL today began mailing its proxy statement for the Company's
Annual Meeting of Shareholders to be held on November 15, 2012. In addition,
President and CEO Sandra B. Cochran sent a letter to the Company's
shareholders urging them to elect the Company's ten nominees to the Board of
Directors, and to vote against the election of Sardar Biglari and Phil Cooley.
“Despite being rejected by a significant margin last year, Mr. Biglari has not
only chosen to re-fight the same battle to elect himself, but has also
nominated his company's vice chairman, Phil Cooley, for election, without
providing any specific plans or proposals for the Cracker Barrel business,”
Ms. Cochran wrote to Cracker Barrel shareholders. Mr. Biglari is CEO of a
restaurant acquisition and holding company, Biglari Holdings, and CEO of its
principal portfolio company, Steak 'n Shake, a family dining restaurant chain
that Cracker Barrel considers a competitor.
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