Finnish-Swedish confectioner Cloetta-Fazer has agreed to sell its trading business Handel to Switzerland's Valora Holding for SKr538m (US$50.65m), the groups disclosed today [Friday]. The chocolate and sugar confectionery company said its 2000 net sales came in at SKr2bn, while it employs 600 staff.

"The sale of the Handel trading business is part of a strategy to focus resources on core confectionery business operations," Cloetta-Fazer said in a statement. The deal is subject to approval by Finnish and Swedish competition authorities.