Cracker Barrel and Steak ‘n Shake are caught in a growing public feud that’s drawing national attention — and raising questions about leadership, loyalty, and the future of two iconic American brands.
The controversy began with a social media jab from Steak ‘n Shake criticizing Cracker Barrel’s recent rebranding. The message targeted the company’s new logo, which removed the long-standing image of the “Old Timer” — a bearded man leaning on a barrel — a move that sparked intense backlash from longtime fans.
Sometimes, people want to change things just to put their own personality on things. At CB, their goal is to just delete the personality altogether. Hence, the elimination of the “old-timer” from the signage. Heritage is what got Cracker Barrel this far, and now the CEO wants to… pic.twitter.com/Aoml8ZOfuT
— Steak ‘n Shake (@SteaknShake) August 21, 2025
WHOA! Steak ‘n Shake just COOKEDDD Cracker Barrel.
Never deleting this app. pic.twitter.com/SE6ydSfeJR
— Jack (@jackunheard) August 21, 2025
WHOA! Steak ‘n Shake just COOKEDDD Cracker Barrel.But this wasn’t just a matter of branding. Behind the public comments is a long-running power struggle between Cracker Barrel and one of its largest shareholders, Sardar Biglari — the current head of Steak ‘n Shake and CEO of Biglari Holdings. Biglari has clashed with Cracker Barrel leadership for over a decade, repeatedly launching proxy battles to try to gain control or influence over the company’s board.
In total, Biglari has initiated seven proxy solicitations against Cracker Barrel in 14 years. He’s sought to install his own nominees, criticized past CEOs, and spoken out against everything from dividend strategies to marketing decisions. Although most of his efforts were voted down by shareholders, he did succeed in getting one board nominee appointed in 2022 after reaching a short-term agreement with the company.
But that agreement expired last year, and Biglari returned to the fight — this time targeting the company’s strategic plan, its leadership, and the rebranding that changed both its look and its customer experience.
His criticism reached a wider audience when Steak ‘n Shake took to social media with a series of sharp posts. One message read, “Sometimes, people want to change things just to put their own personality on things,” while another accused Cracker Barrel of trying to “delete the personality altogether” by removing the Old Timer from its signage.
Steak ‘n Shake even posted an image of a red hat — similar in style to a MAGA cap — calling for Cracker Barrel’s current CEO, Julie Felss Masino, to be fired.
Cracker Barrel responded with a forceful statement of its own. It accused Biglari of having a “poor performance” track record as CEO, pointing to losses at Steak ‘n Shake and Western Sizzlin’. It described Biglari’s repeated proxy battles as “self-interested” and said his leadership at other companies should serve as a “cautionary tale.”
Cracker Barrel also alleged that Biglari had not raised any concerns about the rebrand during a June 2024 meeting with Masino, despite later launching a public campaign against it. According to the company, Biglari failed to present any new ideas or objections during that meeting.
Meanwhile, the rebranding effort itself has not gone smoothly. After the public outcry over removing the Old Timer and modernizing the company’s rustic decor, Cracker Barrel backtracked and announced it would keep its long-standing logo. The stock, which had dropped 7% in the aftermath of the logo’s unveiling — wiping out nearly $90 million in market value — saw some recovery after the reversal.
Mr. President,
Cracker Barrel heard you.
Americans are grateful!
Thank you for your attention to this matter! https://t.co/R22gl0YINN
— Steak ‘n Shake (@SteaknShake) August 27, 2025
But the deeper tensions between Cracker Barrel and Biglari remain unresolved.
Biglari Holdings has struggled with its own business challenges. Under Biglari’s leadership, Steak ‘n Shake saw rapid gains in the early years, including turning daily profits of $100,000 by 2009. But by 2018, the company was losing money again. By 2024, over 200 locations had closed, and the business had shifted toward a fast-food-style model focused on self-service kiosks.
At Western Sizzlin’, another Biglari-controlled chain, the number of restaurants shrank from 140 to just 33 — a decline that Cracker Barrel has used as part of its argument against Biglari’s involvement in its board decisions.
As the conflict continues, Cracker Barrel’s hometown customers in Lebanon, Tennessee, are weighing in — many voicing relief that the Old Timer will stay. But questions still remain about who’s really in control, what the future of the company looks like, and whether this corporate battle is far from over.
