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Biglari Holdings Inc., through its subsidiaries, primarily operates and franchises restaurants in the United States. It owns, operates, and franchises restaurants under the Steak n Shake and Western Sizzlin names. The company also engages in underwriting commercial trucking insurance; selling physical damage and non-trucking liability insurance to truckers; and providing property and casualty insurance. In addition, it operates oil and natural gas properties in the Gulf of Mexico; and publishes and sells magazines under the MAXIM brand name. Further, it licenses media products and services; and engages in the investment activities. The company was formerly known as The Steak n Shake Company and changed its name to Biglari Holdings Inc. in April 2010. Biglari Holdings Inc. was founded in 1934 and is based in San Antonio, Texas.

Granite City Food & Brewery, Ltd. operates casual dining restaurants in the United States. The company's upscale casual dining restaurants include the Granite City Food & Brewery restaurant that offers various menu items and handcrafted beers, as well as other regional craft beers; and the Cadillac Ranch All American Bar & Grill restaurant that offers American cuisine, including homemade meatloaf and pasta dishes. The company was founded in 1997 and is headquartered in Bloomington, Minnesota.

Noble Roman's, Inc. sells and services franchises, and licenses and operates foodservice locations for stand-alone restaurants and non-traditional foodservice operations. The company franchises, licenses, and operates foodservice locations under the Noble Roman's Craft Pizza & Pub, Noble Roman's Pizza, Noble Roman's Take-N-Bake, and Tuscano's Italian Style Subs trade names, which provide breadsticks and cheesy stix with dip, pizza, pasta, salads, wings, baked sandwiches, and other related breakfast products, as well as a selection of desserts. The company was incorporated in 1972 and is headquartered in Indianapolis, Indiana.

Star Buffet, Inc. operates a multi-concept restaurant holding company in the United States. As of January 28, 2019, it operated 26 full-service restaurants in 10 states. The company operates its restaurants under the 4B's, JB's, Barnhill's Salads Buffet Desserts, Casa Bonita, Pecos Diamond Steakhouse, Bar-H Steakhouse, Whistle Junction, and BuddyFreddys names. Star Buffet, Inc. was founded in 1997 and is based in Scottsdale, Arizona.