San Antonio, January 7, 2026
Sardar Biglari, through Biglari Capital Corp., has increased its stake in Jack in the Box to 9.9% and is pursuing a board seat as part of efforts to influence the company’s direction amid its ‘JACK on Track’ turnaround plan. This plan aims to enhance financial performance through restaurant closures and potential divestitures. In response, Jack in the Box has adopted a ‘poison pill’ strategy to prevent a hostile takeover.
San Antonio Investor Seeks Board Seat at Jack in the Box Amid Turnaround Efforts
San Antonio, Texas – Biglari Capital Corp., led by investor Sardar Biglari, has increased its stake in Jack in the Box Inc. to 9.9% and is advocating for a board seat to influence the company’s strategic direction. This move comes as Jack in the Box implements its “JACK on Track” plan, aiming to improve financial performance and operational efficiency.
Biglari Capital’s Investment and Proposal
Biglari Capital Corp. has privately informed Jack in the Box that it now owns 9.9% of the company’s common stock and intends to further increase its stake. In response, Jack in the Box’s Board of Directors unanimously adopted a limited-duration stockholder rights plan, commonly known as a “poison pill,” to prevent any single entity from gaining control without paying an appropriate premium. The rights plan is effective immediately and would become exercisable if any person or group acquires 12.5% or more of the company’s outstanding shares.
Jack in the Box’s Turnaround Strategy
The “JACK on Track” plan includes the closure of 150 to 200 underperforming restaurants and exploring strategic alternatives for its Mexican-American restaurant chain, Del Taco, including a possible divestiture. The company also aims to strengthen its balance sheet and transition to an asset-light business model.
Background on Sardar Biglari
Sardar Biglari, through Biglari Capital Corp., has a history of engaging in strategic initiatives with restaurant chains. He has previously attempted to influence the direction of Cracker Barrel Old Country Store Inc. and El Pollo Loco Holdings Inc., advocating for changes in leadership and strategic direction.
Stock Performance
As of January 7, 2026, Jack in the Box’s stock (NASDAQ: JACK) is trading at $20.50, reflecting a 7.93% increase from the previous close. The day’s trading saw a high of $20.66 and a low of $19.03, with an opening price of $18.97 and a volume of 811,526 shares.
Conclusion
The involvement of Biglari Capital Corp. in Jack in the Box’s strategic decisions highlights the ongoing efforts to revitalize the company’s performance. The outcome of this engagement will depend on the company’s response to the proposed changes and the effectiveness of its turnaround strategies.
Frequently Asked Questions (FAQ)
What is Biglari Capital Corp.’s current stake in Jack in the Box?
Biglari Capital Corp. now owns 9.9% of Jack in the Box’s common stock and intends to increase its stake further.
What is the “JACK on Track” plan?
The “JACK on Track” plan includes the closure of 150 to 200 underperforming restaurants and exploring strategic alternatives for its Mexican-American restaurant chain, Del Taco, including a possible divestiture.
What is a “poison pill” in corporate governance?
A “poison pill” is a defense mechanism used by companies to prevent hostile takeovers. In this case, Jack in the Box adopted a limited-duration stockholder rights plan to prevent any single entity from gaining control without paying an appropriate premium.
What is Sardar Biglari’s background?
Sardar Biglari, through Biglari Capital Corp., has a history of engaging in strategic initiatives with restaurant chains, including Cracker Barrel Old Country Store Inc. and El Pollo Loco Holdings Inc., advocating for changes in leadership and strategic direction.
What is the current stock performance of Jack in the Box?
As of January 7, 2026, Jack in the Box’s stock (NASDAQ: JACK) is trading at $20.50, reflecting a 7.93% increase from the previous close.
Key Features of the Situation
| Feature | Details |
|---|---|
| Investor Involved | Sardar Biglari of Biglari Capital Corp. |
| Current Stake | 9.9% of Jack in the Box’s common stock |
| Proposed Action | Seeking a board seat to influence strategic direction |
| Company’s Response | Adopted a “poison pill” stockholder rights plan |
| Turnaround Strategy | Closure of underperforming restaurants and potential divestiture of Del Taco |
| Stock Performance | Trading at $20.50 as of January 7, 2026 |
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