Case | HBS Case Collection | October 2006 (Revised May 2007)

King Arthur Flour

by Thomas J. DeLong, James Holian and Joshua Weiss


Steve Voigt, the CEO of King Arthur Flour, must determine how the company can continue to grow, whilst preserving its unique culture. In 1996, the company was sold to employees in as ESOP transaction. The following decade saw significant growth, despite declining sales for the industry as a whole. The success could be attributed both to the quality of the product and to the company culture, which treated employee-owners with respect and allowed them to meaningfully contribute to the future direction of the company. By 2006, King Arthur flour had grown from 60 employees to over 200 and Voigt was left questioning whether the unique culture, and ESOP structure, would continue to function as the company continued to expand.

Keywords: Employee Stock Ownership Plan; Business or Company Management; Organizational Culture; Employee Ownership;


DeLong, Thomas J., James Holian, and Joshua Weiss. "King Arthur Flour." Harvard Business School Case 407-012, October 2006. (Revised May 2007.)