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 underwrites commercial truck insurance, including physical damage and non-trucking liability insurance for truckers, as well as property and casualty insurance and reinsurance. In addition, it operates oil and natural gas properties offshore in Louisiana state waters and in the Permian Basin, publishes, licenses, and sells magazines under the MAXIM brand names, and engages in investment activities. The company was formerly known as The Steak n Shake Company and changed its name to Biglari Holdings Inc. in April 2010. It was founded in 1934 and is based in San Antonio, Texas.