Cracker Barrel Responds to Biglari Demand, Says Execution of Existing Business Stategy is Proper Course of Action

Cracker Barrel

said today that its Board of Directors has considered both Sardar Biglari's recent filing and subsequent letter demanding that the Company commence a sale process, and has determined that the continued execution of the Company's existing business strategy is currently the proper course of action for the long-term best interests of the Company and its shareholders. Commenting on the decision, James W. Bradford, Chairman of the Board of Cracker Barrel said: “We are disappointed that Mr. Biglari is seeking to call a special meeting to vote on a proposal requesting that the Company commence a sale process, particularly in light of his defeat by