This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Steak N Shake Announces Its First International Expansion Agreement

SAN ANTONIO, TX, Oct. 9, 2012 /PRNewswire/ -- Steak n Shake, the pioneer and market leader of the premium burgers segment of the restaurant industry, announced today its first international development agreement, which will bring this notable "better burger" chain to the Middle East.  Steak n Shake has signed an exclusive area development agreement with the Saleh Bin Lahej Group to open 40 restaurants throughout the United Arab Emirates. This agreement represents the initial expansion of the "better burger" brand outside the continental United States. 

The Saleh Bin Lahej Group is in the vanguard of international franchise operators of major restaurant brands such as Chili's, Macaroni Grill, Black Canyon Asian Cuisine, El Chico Mexican Restaurant, The Pizza Company, and Cantina Laredo. The new partnership further develops the Saleh Bin Lahej Group Hospitality Division, which has grown impressively in recent years as demand for international brands in the Middle East has burgeoned. 

Sardar Biglari, Chairman of Biglari Holdings, which owns Steak n Shake, said, "We are excited about turning Steak n Shake into a global brand. I am honored to be partners with Mohammed Saleh Bin Lahej, a visionary who is taking an iconic American brand to the UAE as our introductory international partner. He has been responsible for creating a company dedicated to high, unmatched operating standards within the industry. Like us, he does not compromise on quality and always considers the customer first. I am delighted he will make Steak n Shake history by opening in UAE, a country that is simply remarkable for its achievements. UAE will be the springboard from which we plan to grow the Steak n Shake brand in multiple dimensions and in many other countries." 

Mohammed Saleh Bin Lahej, Group Chief Executive Officer of Saleh Bin Lahej Group commented, "I am confident that our partnership with Steak n Shake will prove to be prosperous and will mark a notable achievement for both parties.  It is our pleasure to carry such a reputable brand in the fast casual industry here in the UAE.  We have always taken pride in our company with the ability to pioneer breakthrough brands that have continuously allowed us to serve and connect with a diverse range of customers."

Steak n Shake expects to open its first location in Dubai during 2013. 

About Steak n Shake

Steak n Shake is a classic American brand serving premium burgers and shakes. Founded in 1934 in Normal, Illinois, Steak n Shake is the leader in the fast casual "better burger" segment of the restaurant industry, offering its famous, original Steakburger™ and its delicious hand-dipped Milk Shakes. The hand-crafted steakburger, freshly prepared to each guest's order, is made with 100% beef, and contains no preservatives and no artificial ingredients. All the food on the menu is prepared according to the guest's specifications. Steak n Shake establishes and operates both corporate and multi-unit franchise territories with nearly 500 restaurants. Steak n Shake is the 2010 recipient of the Nation's Restaurant News Golden Chain Award. In 2012 Zagat recognized Steak n Shake as having the #1 Milkshake.

Steak n Shake is a wholly-owned subsidiary of Biglari Holdings Inc. (NYSE: BH).

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs