It has been a tumultuous few weeks for Cracker Barrel. The old country store and eatery launched its new company logo and subsequently reversed the change after receiving a barrage of criticism. However, the outcry did not appear to be entirely organic.
On August 21, 2025, Cracker Barrel launched a new logo for the first time in almost 50 years. The response, on social media in particular, was swift — people accused the brand of ‘erasing American tradition’ and ‘woke virtue signaling’. Cracker Barrel’s value sank by nearly $100 million, and after less than 48 hours, the chain announced that it would return to its old logo. After making an initial recovery, Cracker Barrel’s stock price is still trending down, and it has suspended all plans to remodel restaurants.
Among the prominent voices on social media was an activist investor and prominent shareholder, Sardar Biglari, who seemed to play up the outrage. After 14 years and seven staged proxy fights with Cracker Barrel’s leadership, Biglari saw the opportunity to air his grievances with the organization’s C-suite. Among other contentious claims, Biglari and his team posted from both personal and professional accounts, calling for Cracker Barrel CEO’s resignation.
Biglari has a history of buying restaurant chains and vying for control. In 2008, he staged and won a proxy fight against the leadership of Stake ‘n Shake, resulting in his appointment as CEO. Today, Biglari is the biggest shareholder in Cracker Barrel, has a nominee on the Cracker Barrel board, but still has not gotten the control he wants.
It is unclear how much influence Biglari had in Cracker Barrel’s decision to revert to its preexisting logo, but his public success will only embolden other activists. This situation is yet another example of why understanding who you’re up against, including their areas of vulnerability, their modus operandi, and their past successes and failures, is critically important.
Steak 'n Shake started posting on X, with glee almost, about Cracker Barrel's issues…‘They're right. Cracker Barrel has not been well-managed,’ and ‘Stop the brand refresh.’ And again, really fomenting some of these personal attacks on the CEO, ‘Fire the CEO.’
