- Development Deal to Bring Iconic Restaurant Chain to
Saudi Arabia
SAN ANTONIO, Dec. 18, 2013 /PRNewswire/ -- Steak 'n Shake, the
pioneer and market leader of the premium burger segment of the
restaurant industry, announced today a major international
development agreement in the Middle
East, which will bring this notable "better burger" chain to
Saudi Arabia. Steak 'n Shake has
signed an exclusive agreement with AB Holdings to open 50
restaurants throughout Saudi
Arabia during the coming years. This agreement represents
the ongoing extension of Steak 'n Shake by Biglari outside of
the United States.
AB Holdings is a highly successful conglomerate with a strong
track record across multiple sectors and regions in the
Kingdom of Saudi Arabia. AB
Holdings has diversified its economic activities and has
constructed and operated numerous commercial, industrial, and
residential projects.
Sardar Biglari, Chairman of
Biglari Holdings, which also owns Steak 'n Shake, said, "I am
honored to be partners with AB Holdings, an experienced
multi-industry company ideally suited to bring Steak 'n Shake to
Saudi Arabia. Combining a great
brand with a great partner, I am convinced, will bring about great
results. The partnership with AB Holdings is an outstanding step in
our continuous endeavor to become a global brand. We now have
forged a forceful beginning in the Middle
East with total commitments for 90 restaurants."
Eng. Faisal Abdullah Al Blehed,
Chief Executive Officer of AB Holdings, commented, "We are thrilled
to be in partnership with Steak 'n Shake and are excited to have a
long-term cooperative relationship. To us, this partnership stands
as a testament to our continuous strategy of new acquisitions to
bringing the best of restaurant brands to the Kingdom. We look
forward to building and developing great restaurants that deliver
the highest quality of food operations and service in the
Kingdom of Saudi Arabia."
Steak 'n Shake expects to open its first location in
Riyadh during the first half of
2014.
About Steak 'n Shake by Biglari
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 milkshakes. Steak 'n Shake establishes and
operates both corporate and multi-unit franchise territories with
over 500 restaurants. Steak 'n Shake is the recipient of the
Nation's Restaurant News Golden Chain Award. Zagat has recognized
Steak 'n Shake as having the #1 Milkshake.
Steak 'n Shake is a wholly-owned subsidiary of Biglari Holdings
Inc. (NYSE: BH).