Bavaria: Brewing with local roots and global ambitions
Lieshout (NL), October 2015. Bavaria N.V., founded well before 1680 and based in Lieshout (Netherlands), was the second largest brewery in the Netherlands. It symbolized fierce independence and a high degree of entrepreneurship, always balancing legacy with innovation. Five cousins from the Swinkels family were at the helm of the operative business; the company’s shared leadership model was one of its many ingredients for success, as was the family’s unquenchable ambition for the company. But the path to global enjoyment was anything but smooth. Western beer markets had been stagnating for years, some even declining, and competition was fierce. To generate growth, brewers had to rely mostly on acquisitions. The challenge for the seventh generation of Swinkels’ family owners had clearly been to leverage the company’s exceptional brewing skills. To stay relevant and continue to thrive for the next generations, Bavaria needed to identify new growth niches and maintain excellence in product quality while optimizing its manufacturing and entire value chain. Should it continue to rely on technology to create new products and brands addressing ever finer niche markets? Should it reach out for new frontier markets where beer consumption was still on the uptrend? Could it really do both effectively with its original governance and management structure, keeping the family connection and values?
Family governance, culture, growth management, expansion strategy, sustainability, Ethiopia, affinity financing, emerging markets, product portfolio management, venturing, entrepreneurship.
2010–2015
Cranfield University
Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]
Harvard Business School Publishing
60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]
NUCB Business School
1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]
IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.
Research Information & Knowledge Hub for additional information on IMD publications
Understanding conflict in family businesses is a complex but essential study area for practitioners and academics. To enhance theoretical precision and provide practical insights, this article presents a comprehensive framework of family business ...
Digital transformation introduces a new set of parameters for firm innovation. Existing literature has found that family firms vary on their willingness to innovate. However, explanations of the factors that lead to a family firm’s (un)willingness...

The choice between an in-house ceo and a professional from outside influences culture, strategy, and brand perception. A study of 63 Italian companies shows that the second option improves corporate reputation through greater credibility and exper...
Family business ethics are uniquely shaped by family influence and a strong emphasis on preserving socioemotional wealth. Although research in this area has grown rapidly in recent years, it remains fragmented and underdeveloped. Advancing the fie...
Leadership in family businesses takes on special characteristics, as it is influenced by strong emotional components, high levels of control by leaders and often above-average tenure in the role compared to other business contexts. Precisely for t...

Family-owned businesses often possess unique strengths, such as long-term vision, shared purpose, and deep-rooted values that provide a strong foundation for success. However, when it comes to fostering trust and inclusivity among non-family emplo...
Jess Chua was a leading scholar in the field of family business and a major contributor to Entrepreneurship Theory and Practice both as an author and editor. His significant contributions to the field were acknowledged by the Web of Science, which...
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Journal of Family Business Strategy June 2025, vol. 16, no. 2, 100660, https://doi.org/10.1016/j.jfbs.2025.100660
Research Information & Knowledge Hub for additional information on IMD publications
in Small Business Economics 24 May 2025, ePub before print, https://doi.org/10.1007/s11187-025-01057-8
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Journal of Business Ethics May 2025. vol. 98, pp. 715–731, https://doi.org/10.1007/s10551-025-05989-9https://doi.org/10.1007/s10551-025-05989-9
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in Entrepreneurship Theory and Practice May 2025, vol. 49, no. 3, pp. 603-619, https://doi.org/10.1177/10422587251315653
Research Information & Knowledge Hub for additional information on IMD publications