The rise and subsequent demise of Canada’s potato kings is told in this superb chronicle. A family and social history as well as a business analysis, it’s a provocative text for any family firm that hopes to grow large and a how-not-to-do-it book for any closely held firm that has not planned its succession.

Waldie, a Globe and Mail staffer, invested immense resources researching the rise of McCain Foods Ltd. from 1956 as a New Brunswick potato fryer to its expansion around the world. A family firm headed by brothers Wallace and Harrison, it grew at first by their luck in investing in the right markets, later by careful extensions and takeovers of other agribusiness firms. Conservatism typified its growth while behind the scenes, which Waldie vividly reconstructs, the factions loyal to Harrison and Wallace carried out a battle for control of the empire.

Wallace lost everything but his shares, his considerable wealth, and a seat on the board of directors; Harrison won everything but the right to turf Wallace out completely. Waldie appears to have had greater access to Wallace and tells the story more from his point of view. Often shunted aside by the more socially aggressive, take-charge style of Harrison, Wallace wound up as a sidekick who was shocked when he found his influence waning. That’s the core story from his point of view. Harrison, leery of reporters after being gored in a CBC documentary, appears to have been largely inaccessible.

A House Divided is a monumental business story, potentially interesting to a vast number of people around the world who’ve scarfed down McCain’s products, useful to lawyers who may want to scare clients with closely held firms into making succession plans, and essential to libraries of Canadiana.