Topps trading cards, one of the original Star Wars licensees from back in 1977, has been sold to sports entertainment giant Fanatics for $500 million and while there are few details currently available other than the purchase itself, this could potentially signal changes for the Star Wars section of the company.
Michael Rubin’s e-commerce company Fanatics has acquired Topps trading cards, sources close to the deal confirmed to CNBC on Monday night.
Terms of the agreement were not available, but industry sources put the deal at roughly $500 million. It will include only Topps’ name and sports and entertainment division, not the company’s candy and gift cards line, one source said.
Fanatics and Topps declined to provide comment but an announcement is expected on Tuesday.
Fanatics, which reached an $18 billion valuation in 2021, wants to expand the trading card business with more via direct-to-consumer commerce. For example, should collectors purchase a trading card, they’ll be able to insure the asset, grade, store and even put cards on a marketplace to sell or trade through Fanatics.
Topps was a public company before being taken private following a $385 million deal in 2007. The company was founded in 1938 and became well known for its distribution of trading cards, including the 1952 Mickey Mantle card, one of which sold for $5.2 million in January 2021.
