The rocky relationship between the Finnish sweets manufacturer Fazer and the Swedish Cloetta is coming to its end. The companies announced early Monday that the two companies would de-merge after eight years together.
Cloetta will be listed on the Stockholm Stock Exchange as an independent company, while Fazer Confectionery will rejoin the Fazer Group, which has been focusing on baked goods.
The linkage of the companies of two families, the Finnish Fazer and the Swedish Svenfelt, soon proved to be difficult.
Disagreements on the distribution of shares of the new company emerged in 2003.
Fazer would have wanted to expand both Cloetta and Fazer, and to increase its ownership in the company. The cautious Svenfelts disagreed, and the family took legal action to prevent Fazer’s portion from growing.
Fazer holds 44.7% of Cloetta Fazer, while the Svenfelt family has a 39.6% share.
The move is not expected to lead to any job cuts in Finland.
