Topps sells its well-known sports activities card enterprise for an undisclosed worth to Fanatics, the sports activities model that’s steadily constructing a licensing empire.
The deal contains Topps’ sports activities and leisure companies. In August, Topps misplaced its licensing agreements with Main League Baseball and the Main League Baseball Gamers Affiliation to Fanatics. This sudden lack of a decade-long relationship shattered Topps’ plans to go public and query his future.
Topps has been owned by Tornante, the funding agency of Michael Eisner, former CEO of the Walt Disney Firm, and personal fairness agency Madison Dearborn Companions since 2007, when the 2 corporations acquired it for $ 385 million.
Mr. Eisner mentioned in an announcement that “the sturdy emotional connection between Topps collectibles and shoppers of all ages” would make it “a jewel in Fanatics’ portfolio”.
The entire 350 or so staff in Topps’ sports activities and leisure division will swap to Fanatics. Topps sells its merchandise in additional than 100 nations, with bodily places of work in 10 nations.
Topps’ remaining enterprise, which incorporates Bazooka chewing gum and reward playing cards, will now be referred to as the Bazooka Corporations. These two divisions had gross sales of greater than $ 250 million in 2021.