, Columnist
Bob Evans: Waking Up to a Breakup
The breakfast chain may finally be ready to heed an activist investor's recommendation.
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It's taken three years, but the Bob Evans breakfast chain may finally serve up what its activist investor ordered.
Sandell Asset Management has long wanted Bob Evans to separate its restaurant business from its packaged-foods division, which makes things like Bob Evans-branded sausage and frozen breakfast sandwiches that you can buy in supermarkets and convenience stores. In a sign that the New Albany, Ohio-based company may be moving in the breakup direction, Saed Mohseni, who became CEO of Bob Evans in January, had this to say on the company's first-quarter earnings call two weeks ago: