Embracer Group has taken the next step in spinning off Coffee Stain Group AB. The company announced a new board of directors to guide the Swedish game studio as it moves toward becoming a standalone public company.
The new Coffee Stain board will be led by Jacob Jonmyren as Chairman, with members including Sara Börsvik, Henrik Tjärnström, Kicki Wallje-Lund, Coffee Stain Co-founder and CEO Anton Westbergh, and Embracer co-founder Lars Wingefors.
Westbergh, who co-founded Coffee Stain, has also stepped down from Embracer’s executive management team to focus entirely on leading the studio.
This change is part of Coffee Stain’s transition toward an independent listing on the Nasdaq First North Premier Growth Market in Stockholm, expected by the end of 2025. Embracer, meanwhile, is preparing to rebrand itself as Fellowship Entertainment as part of its broader restructuring.
Jacob Jonmyren said: “Coffee Stain Group has thrived as part of the Embracer Group, with successful titles such as Deep Rock Galactic, Goat Simulator, Satisfactory, Teardown, Valheim and Welcome to Bloxburg. We now take the next step and prepare to stand on our own.”
In November 2018, Coffee Stain and its IP were acquired by Embracer Group (then known as THQ Nordic AB) for around $34.9 million (317 million Swedish Krona), with possible additional payouts tied to milestones. Despite the acquisition, Coffee Stain continued to operate independently under co-founder Anton Westbergh as CEO.
In 2024, Embracer announced plans to split into three separate companies, with Coffee Stain set to become one of them. By May 2025, Embracer confirmed Coffee Stain would spin off as its own publicly listed group, while the parent company would rebrand.
